Fred No Cap

Father, husband, asymmetrist, ultra trailer

[Fred No Cap @1fredtai]

@DollarCostAvg 🚀🚀🚀 lfg

[Lando @LandoInvests]

https://t.co/F3M9COhcXt

[Fred No Cap @1fredtai]

@HeidingOut i missed this name the whole time while watching u rocking it, i guess a good time to add some is now

[Gaetano @crux_capital_]

https://t.co/nitp3QC6q6

[Fred No Cap @1fredtai]

@crux_capital_ thank you

[Black Panther Capital @BlackPantherCap]

I’ll say this once:

I STILL can’t believe some people are bearish $IREN.

Nick Giles, B. Riley Securities just raised their PT on $IREN from $88 → $96.

Nick is ranked #63 out of 12.190 analysts on TipRanks with a succes rate on 76%.

Demand for GPU power has NEVER been bigger.

In my opinion it’s not the time to be bearish.

It’s almost the same as believing AI will not become a thing. That’s not gonna happen with all that CAPEX being spend.

AI is here to stay. We are in early innings.

Power is EVERYTHING.

-BP

Please note, as always: this is my personal opinion and not financial advice.

[Fred No Cap @1fredtai]

@chad_ventures interestingly no replies on this yet, means it might be true again

[세바경 ⚡️ @Sebagyeong]

$IREN

조금 오해의 여지가 있는걸 풀어보자면,

아이렌이 계약을 따내오지 못한다고 시장이 저평가하고 , 다소 욕을 하고 있는 상황이다

역설적이게도 아이렌이 계약을 조금씩 신중하게 ‘덜’ 하고 있기에 아이렌 가치가 더욱 올라가고 있다는 것임

희소한 기업으로 점차 지속 성장중입니다 👀

[Mark @marksotoges]

$IREN
ERCOT NEWS ⚡️

ERCOT is advancing new rules for large-load projects such as AI data centers and crypto miners. The proposal would move Texas toward a batch-based approval process for new large power loads and could require facilities to remain connected during certain grid disturbances.

Why this matters for IREN:

While these rules may create additional hurdles for speculative projects still seeking power and interconnection rights, IREN already has significant advantages:

✅ Secured GW-scale power
✅ Energized infrastructure at Sweetwater
✅ Committed GPU and equipment orders
✅ Advanced project development at Childress and Sweetwater

As ERCOT raises the bar for new entrants, the value of already-secured power, energized sites, and shovel-ready infrastructure may become even more apparent.

In an AI world where power is the scarce resource, IREN appears to be increasingly positioned on the right side of the bottleneck.

$IREN

[Fred No Cap @1fredtai]

@HeidingOut ah good choice :)

[Fred No Cap @1fredtai]

@HeidingOut a model and a successful trader, whoever said u cant have best of both world???

[Fred No Cap @1fredtai]

IREN is my retIRENment playbook, thanks Agrippa for this new book 🚀😂😘

https://t.co/k1cQYseyub

[Fred No Cap @1fredtai]

@bitcoinbutcher1 it is because of tourist we can dca more

[Fred No Cap @1fredtai]

@cantonmeow oh my, nearing top signal?

[Fred No Cap @1fredtai]

@HeidingOut 🔥🔥🔥 hot

[Daniel Roberts @danroberts0101]

Childress. Liquid cooling online.

[Fred No Cap @1fredtai]

@chad_ventures pure free alpha, thanks Chad

[𝐀𝐠𝐫𝐢𝐩𝐩𝐚 𝐈𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭𝐬 @Agrippa_Inv]

My take on @danroberts0101 new post

$IREN Co-CEO just dropped a beautifully written thread on the company's compounding competitive advantages.

Seriously, a must read for every $IREN investor or folks who are on the fence.

My highlights:

- Dan confirmed that the 60 MW cloud contract with $NVDA is in fact measured in 'gross' MW, not IT. That was already obvious to me based on the earnings call material, however, it's great to get definitive confirmation.

The implications of this is ENORMOUS. The $NVDA contract has incredible economics, something I've analyzed extensively in my upcoming $IREN deep dive (released in a couple of days on Substack).

- Dan firing shots at the likes of $NBIS & $CRWV:

"And the asset-light neocloud trying to compete by renting capacity is discovering that sites were locked up years ago, and the operators utilizing them aren’t subletting. By the time new entrants solve for land, power and permitting, IREN will have gigawatts online, execution track record, and customer relationships that took years to build. That gap doesn’t close. It compounds."

This is by far my favorite quote coming out of Dan. Eventually, everyone will realize that the real advantage $IREN has over the rest of the neo-cloud sector, is the fact that they are the only provider that's 100% vertically integrated.

They don't have to deal with any land-lords. They don't have to pay billions to $BE to secure fuel cells in a desperate attempt to salvage a project that is tied to a large customer contract. $IREN is in control of its own destiny, and eventually that will show up in the bottom line (profits).

The “asset-light” model never works in an infrastructure-heavy industry. It works for hardware, when you are the high-margin designer and outsource the manufacturing process to a specialized entity. But it doesn’t work when the infrastructure itself is the product.

In cloud, the value is not just in having access to GPUs. The value is in controlling the full stack, which mostly consists of physical infrastructure.

If you outsource all of that to colocation partners, you are not building an AI factory. You are renting someone else’s factory, layering a spread on top, and hoping the economics still work after the landlord, the power provider, the OEM, and the lender have all taken their share.

That model can look attractive in the early innings because it allows rapid capacity announcements without heavy upfront CapEx. But structurally, it leaves the operator with the worst part of the value chain.

I'm really looking forward to comparing the net income lines between $IREN, $CRWV, and $NBIS a few years from now. I wouldn't be surprised if two out of the three remain unprofitable by then.

- I really enjoyed Dan's section about becoming a global cloud provider.

He did a great job in explaining the importance of being locally present in the markets you want to source customers from. Not just due to local proximity for inference, but also due to compliance & sovereignty.

These were my highlights, I'll let you discover the other gems yourself. This is easily Dan's best post and I think it does a lot in terms of IR, especially as it's coming from him; the co-founder and co-CEO of $IREN.

As mentioned earlier, very soon I'll be releasing a new deep dive on $IREN. It goes deep into the implications of the $NVDA partnership and Mirantis acquisition, including a bunch of different topics worth exploring. So far, the report is 30 pages long (including graphs / images) and I'm in the process of finalizing it.

Honestly, one of my best deep dives to date. I know I'm saying that for each release, but the depth and quality of our work is undoubtedly increasing. Can't wait to publish it.

Cheers guys! ✌️

[Daniel Roberts @danroberts0101]

𝐓𝐡𝐫𝐞𝐞 ���𝐚𝐲𝐞𝐫𝐬. 𝐎𝐧𝐞 𝐂𝐨𝐦𝐩𝐨𝐮𝐧𝐝𝐢𝐧𝐠 𝐀𝐝𝐯𝐚𝐧𝐭𝐚𝐠𝐞. 𝐓𝐡𝐞 𝐈𝐑𝐄𝐍 𝐓𝐡𝐞𝐬𝐢𝐬.

There's been a lot happening at IREN recently.

Expansion across North America, Europe and Asia-Pacific.

The NVIDIA partnership.
The Mirantis acquisition.
New GPU deployments.
New customer discussions.
A growing global footprint.

Underneath all of it is a fairly simple view of where the world is heading, and a deliberate strategy for how we position IREN within it.

That strategy is built on three layers. Together, they compound into a structural advantage that gets harder to replicate every quarter we execute.

Layer 1: Physical infrastructure. Power, land, substations, data centers, cooling. The foundation that everything else sits on.

Layer 2: Compute infrastructure. The GPUs, servers and networking that go inside those buildings. Deployed at scale. Generating revenue. Building execution track record.

Layer 3: Software and operational capability. The orchestration, deployment tooling and enterprise expertise that makes the first two layers work harder for customers, and opens the door to a broader, higher-value market over time.

Layers 1 and 2 are where the overwhelming majority of IREN's value is being created today. Layer 3 is where that advantage compounds further over time, but only because Layers 1 and 2 are built, owned and controlled at scale by IREN, not subscale nor contracted from a third party.

Think of Amazon. They didn't win e-commerce by building a great website. They won it by controlling the fulfilment infrastructure at a scale nobody else could replicate. The foundation you don't control becomes the ceiling on your business.

That is exactly how we think about IREN. The physical infrastructure - the land, the power, the substations, the data centers - is owned and controlled by us. The compute deployed into it generates the revenue and execution track record. And the software, orchestration and enterprise capability we are more methodically building on top is what turns the total product into a vertically integrated AI Cloud platform that compounds over time and deepens into a competitive moat.

AI is still early. The bottleneck is increasingly physical. And we have spent eight years building the foundations.

[The God Particle @_Sgr_A_Star]

$IREN

Needham hosted IREN last week....

These are some takeaways:

"For 2027 capacity, negotiations are underway with hyperscalers and frontier labs."

"Australia APC grid connection approvals nearing completion."

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