Andy Helmbock

Senate Avenue Capital, Partner | $IREN | $CIFR | $ASST | $MSTR
Music is the weapon of the future. Not really, but I love that phrase, because I love music.

[Senate Avenue Capital @SenateAveCap]

1/ $IREN is down ~16% from its Sept 22 close ($48.55 to $40.65). AI demand is not the issue. Funding a $25-30B FY27 capex plan with the 10-year at its highest since 2002 is.

[Senate Avenue Capital @SenateAveCap]

1/ Follow-up to our Sep 3 $CIFR post on Cipher's gas laterals: enough fuel for up to 2.5 GW of on-site generation, with new power targeted before end-2027.

Four weeks later, here's where the numbers stand.

[Senate Avenue Capital @SenateAveCap]

We are long @CipherInc ($CIFR) as shares rose more than 12% in Thursday trading after it said it started developing lateral pipelines at multiple sites to deliver natural gas that can support up to 2.5 #gigawatts of electricity for #datacenters.

The company said it intends to support bring-your-own generation capacity, a model used by data centers to secure their own energy rather than relying on the electrical grid.

$CIFR said it plans to use the bring-your-own-generation capacity to develop and lease data center capacity to premier tenants for high-performance computing workloads.

The company said that building the lateral pipelines is a crucial step to ensure new power is available at the sites before the end of the year.

Price: 17.04, Change: +1.86, Percent Change: +12.22
source: https://t.co/gLKJo2z5Gg

[Frans Bakker @FransBakker9812]

$IREN Horizon 1 handover imminent

Satellite imagery confirms that the grounds around the Horizon 1 complex, including data halls, liquid cooling plant, and network core building — have been paved ahead of customer handover.

Furthermore, security has increased, with Microsoft bringing in their own security equipment, including a brand new security booth, which needs to be passed to enter the complex grounds.

If you have any sense of how these projects work, then you realize that these events are the final details of a customer moving in, rather than a construction team moving out.

Do with that information what you will, but shorting @IREN_Ltd ahead of a PR storm of relevant stakeholders, celebrating a 1 out of 4 identical projects successfully being turned into a billing AI factory, sounds pretty irresponsible to me.

Not financial advice ☝️

[Andy Helmbock @Andy_Zesco]

@RobinNakamoto Low T + accretive dilution = another round of golf

[JM @BTCStocksInvest]

Massive Announcement from $CIFR
Bill is not just another senior exec. He was ERCOT's Director of Grid Coordination who knows Texas energy like back of his hand. Expect Gigawatts to be energised soon. $CIFR now has the operator to take it over the finish line. Execution is the moat.

[BitcoinSuperIntelligenceGuy @BitcoinAIGuy]

The negative comments under $IREN ‘s posts remind me of $MARA lol

Seeing $IREN bulls get angry and frustrated typically happens right before a major rally

Bullish

[Tyler Page @rftylerpage]

As the data center industry continues to evolve, the ability to work well with grid operators, utilities and regulators is going to be a key differentiator for those who successfully scale. We are excited to have Bill join our team, and Cipher continues to accelerate.
$CIFR

[Cipher Digital @CipherInc]

Cipher Digital Announces Appointment of Bill Blevins as Head of Grid Strategies

Read full press release here: https://t.co/wnUCWoul9o

[Senate Avenue Capital @SenateAveCap]

@IREN_Ltd : Execution is beating the model 🚀Six months after our Dec 2025 thesis, $IREN has delivered at an exceptional pace.Key updates:
• Sweetwater 1 (1.4 GW) successfully energized May 1 — major de-risking. Power ramping now.
• Global expansion locked in: Completed Nostrum Group acquisition in Spain (~490 MW) on June 15 + signed 800 MW Australian campus deal.
• NVIDIA strategic partnership (up to 5 GW) + $3.4B AI Cloud contract. Microsoft $9.7B deal progressing.
• Targeting 150k GPUs and $3.7B AI Cloud ARR by end-2026 (potential $4.4B with Blackwell). Only using a fraction of the >5 GW power portfolio.
• Closed $3.65B investment-grade GPU financing + flexible convertibles.Current: ~$60.85/share, ~$21.7B market cap. Still absurdly attractive vs growth trajectory.

📈We continue to hold 42% of our portfolio with extremely high conviction thanks to The Mayor of Value Town @mikealfred and @FransBakker9812 @bitcoinbutcher1 @BitcoinAIGuy @TheTechInvest

⚡️Power scarcity + vertical integration + hyperscaler contracts = one of the cleanest AI infrastructure stories in the public markets. The original thesis was correct. Execution has been even stronger. Bullish on $IREN?#IREN #AI #DataCenters #NVIDIA

[The Tech Investor @TheTechInvest]

🚨[NEW INTERVIEW] $IREN CEO Dan Roberts:

If you want to start today and build an AI GIGAWATT FACTORY, you’re looking 20 and 30 years before you get the first compute online.

That’s why $IREN has the strongest moat in the sector.

[IREN @IREN_Ltd]

IREN has acquired Awaken, a creative and media agency specializing in content strategy and brand development for high-growth companies.

Senior members of the team will join IREN, including Founder and CEO Chris Parker, who will lead IREN's brand and marketing strategy.

Daniel Roberts, Co-Founder and Co-CEO of IREN, commented: “As we expand across new geographies and customer segments, brand awareness and customer engagement become increasingly important. Chris and the Awaken team have been trusted partners to IREN for some time, and bringing those capabilities in-house was a natural next step as the platform continues to scale."

Learn more: https://t.co/DJxAquJ1CM

[Jeff Walton @PunterJeff]

The @Strategy current annual dividend obligation is $1.48 Billion

Monthly obligation is ~$124 Million.

In the last 11 days, @Strategy purchased ZERO BTC

Yet, In that horizon,

Bitcoin traded $349 Billion in Volume, ~4,480,000 BTC

And the market cap of BTC increased by $66.7 Billion

Strategy’s monthly obligation of $124M represents 3.5 Basis Points (0.035%) of the trading volume in the last 11 days.

Roughly 1,530 BTC to pay dividends for a month.

I think the market is going to be ok.

Few.

[Senate Avenue Capital @SenateAveCap]

@JoshMandell6 Where the hell is Gladiator?

[Senate Avenue Capital @SenateAveCap]

@litigious_dulce Certainly appreciate the transparency and humble approach! You helped us determine $IREN belongs in our portfolio. We obviously now hold a bit of $NUAI. Any AUM would be glad to have you on their team to run the digital/utility segment. Lengthen the horizon. Much gratitude!

[Cipher Digital @CipherInc]

This morning, Cipher released its Q4 and FY’25 business update and announced an official rebrand to Cipher Digital, reflecting $CIFR's strategic transition into a leading HPC data center development platform.

The Company also announced the following updates:

- Barber Lake and Black Pearl developments remain on schedule and on budget
- Divested 49% interests in the Alborz, Bear, and Chief JV sites and select mining equipment for ~$40 million in an all-stock transaction
- Reported Q4 2025 revenue of $60 million

“Building on a transformative 2025, the fourth quarter reflected continued momentum as we advanced our evolution into a leading HPC data center development company,” said Tyler Page, CEO. “With financing fully secured and construction on track for both of our currently contracted developments, 2026 is a year of execution as we establish Cipher Digital as a premier platform powering next-generation compute.”

More here: https://t.co/mDgkNyTAVO

[IREN @IREN_Ltd]

$IREN today reported its Q2 FY26 results.

Key highlights:

✔️$3.6bn GPU financing secured for Microsoft contract

- Interest rate of <6% p.a.
- Together with Microsoft prepayment ($1.9bn) covers 95% of GPU-related capex

✔️Targeted 140k GPU expansion on track to deliver $3.4bn ARR by end of CY26

- Horizon 1-4 construction progressing to schedule
- British Columbia AI Cloud expansion ongoing, with ~$0.4bn ARR now under contract for Prince George and remaining contract negotiations supporting >$0.5bn ARR

✔️New 1.6GW data center campus in Oklahoma

- Increases secured grid-connected power to >4.5GW
- Grid-studies complete, with power scheduled to ramp from 2028
- Large scale site (2,000 acres) with low latency network connectivity

@danroberts0101 Co-Founder and Co-CEO of IREN, commented

“Last quarter marked meaningful progress across capacity expansion, customer engagement, and capital formation, reflecting IREN’s progress as a scaled AI Cloud platform,” said Daniel Roberts, Co-Founder and Co-CEO of IREN.

“We are seeing the strongest demand environment to date, and importantly, that demand is being met by a proven execution capability. Over several years, we have consistently delivered data center capacity on time and at scale, and that delivery track record continues to resonate with customers who value reliability alongside performance.

With more than 4.5GW of secured power, we are able to advance a broad set of opportunities in our pipeline and support the next phase of growth. Our $3.4bn ARR target represents an early stage of monetization relative to the size of our secured power portfolio, highlighting the scale of the platform we are building.”

$IREN management will host a webcast to discuss these results at 5:00pm ET today, which can be accessed here: https://t.co/m8DrgmcTM2

[Senate Avenue Capital @SenateAveCap]

@HurdleRateClips @strive @ColeMacro Bewilderment ensues! We are thrilled to add another 200k shares today at $0.66/ps bringing our average cost to $0.8471...as we stack before the RS. Let's go! Shout out to the man...the myth...the Screaming Eagle drinking legend @mikealfred

[Strive @Strive]

During the period from 11/10/2025 to 12/31/2025, Strive acquired ~101.8 BTC at an average cost of ~$94,525 per Bitcoin.

As of 12/31/2025, Strive hodls ~7,626.8 BTC acquired at an average cost of ~$113,153. $ASST $SATA

[True North @TNorth]

"High Powered Digital Money" | True North Podcast | Ep. 48 https://t.co/lyX7vWk5JF