Scott David

Canadian banker and bitcoin enthusiast sharing BTC News and opinions with a Canadian focus and bias. Trading on several platforms.

[Scott David @BitcoinzC]

IS THERE NO BOTTOM???

[The Kobeissi Letter @KobeissiLetter]

BREAKING: President Trump says the US Navy is lifting its "blockade" of the Strait of Hormuz and he is meeting in the Situation Room to make a "final determination" on the Iran deal.

[Scott David @BitcoinzC]

You don’t call the railway a bubble when you are still building the tracks.

[CryptoGoos @cryptogoos]

🩸WARNING:

The greatest investor in history is repeating himself.

Warren Buffett never fails.

1999, Buffett: "Euphoria is the enemy." He walked. Dot-com crashed 78%.

2026, Buffett: "We've never had people in a more gambling mood than now."

$400B in cash. Zero stocks bought.

Michael Burry: $1B short on AI. "Feels like 1999."
Buffett: $400B cash. "Worse than 1999."

Two legends. Same year. Same warning.

They're not buying. They're hoarding cash.

Are you prepared?

[Nathie 🔜 AWE @NathieVR]

Google just showed how their smart glasses can work together with a smartwatch. I think this is where they could have a huge advantage over Ray-Ban Meta.

[Cointelegraph @Cointelegraph]

🤖 INTERESTING: Massachusetts Institute of Technology students built an AI-powered wearable hand controlled by Anthropic’s Claude that can play piano, draw, and mix drinks using electrical pulses.

[Scott David @BitcoinzC]

@mikealfred @dara_venture Wine…. Only wine.

[Scott David @BitcoinzC]

Trumps war and tarrifs are driving up inflation and decreasing the likelihood of a rate cut BUT he blames outgoing Fed Chair.

Rates should have been lowered before the Iran conflict (I agree) but now he has made things much more difficult for the Warsh.

[Bloomberg @business]

Nvidia s investing as much as $2.1 billion in the data center developer IREN as part of a broader partnership between the two companies aimed at accelerating the construction of artificial intelligence infrastructure https://t.co/35254bbQ9w

[Frans Bakker @FransBakker9812]

@nvidia and @IREN_Ltd Announce Strategic Partnership to Accelerate Deployment of up to 5 Gigawatts of AI Infrastructure

IREN) today announced a strategic partnership to accelerate deployment of next-generation AI infrastructure.

As part of the partnership:

$NVDA and $IREN intend to support deployment of up to 5 gigawatts of NVIDIA DSX-aligned AI infrastructure across IREN’s global data center pipeline over time.

NVIDIA and IREN will collaborate on deployment of NVIDIA accelerated compute in DSX AI factories to expand access to AI-native, startup and enterprise customers.

As part of the partnership, IREN issued to NVIDIA a five-year right to purchase up to 30 million shares of ordinary stock at an exercise price of $70 per share, resulting in a right to invest up to $2.1 billion, subject to certain conditions including regulatory.

The partnership is intended to accelerate deployment of large-scale AI factories by combining NVIDIA’s DSX AI factory architecture with IREN’s expertise across power, land, data centers, GPU deployment and infrastructure operations.

Future deployments are expected to focus on IREN’s 2-gigawatt Sweetwater campus in Texas, which the companies expect to serve as a flagship deployment for NVIDIA’s DSX architecture.

“AI factories are becoming foundational infrastructure for the global economy,” said Jensen Huang, founder and CEO of NVIDIA. “Deploying these systems at scale requires deep integration across the full stack — compute, networking, software, power and operations. IREN brings the scale and infrastructure expertise to help accelerate the buildout of next-generation AI infrastructure globally. Together, we are building for the age of AI.”

“This partnership combines NVIDIA’s AI systems and architecture leadership with IREN’s expertise across power, land, data centers, GPU deployment and infrastructure operations,” said Daniel Roberts, cofounder and co-CEO of IREN. “Together, we believe we can accelerate deployment of AI infrastructure and expand access to compute for AI-native and enterprise customers globally.”

[Charles V Payne @cvpayne]

Breaking News
@ryancohen will appear on Making Money With Charles Payne today 2pm.

Please Tune In

[Jesse Tinsley @JesseTinsley]

People fundamentally dont understand the financial system.

You can leverage the combined equity value of the businesses to offer say ~ $55B with ~$10B of your own combined cash and $20B debt and $25b equity as the combined entity is worth ~$65b.

One of the greatest interviews of all time. Ryan is just not having any of it haha

[The God Particle @_Sgr_A_Star]

$IREN

My expectations heading into IREN earnings week.

1) I expect IREN to miss the headline numbers, revenue and EPS consensus estimates.

Current (Bloomberg) consensus estimates are:

Revenue: Total $216.6M ($83.1M Cloud)
EPS: -0.24

In Q1, IREN's Bitcoin wallet generated sales (revenue) of $110.9M, short of consensus by more than 20M.

This miss is primarily due to the weakness in the price per bitcoin in Q1, as well as the reduction in hash-rate as the company accelerates disconnecting bitcoin miners in preparation for conversion to GPUs.

Fact is, the quicker they can do away with bitcoin mining, the better. At this point, it's frankly inconsequential.

My current estimate for AI Cloud revenue is $81.3M but this assumes that the company completed the retrofit of Prince George and the installation of the 23K+ GPUs at that site.

Based on the most recent comments from Kent Draper on the Jefferies fireside chat, he confirmed that all capacity (50MW) at PG is currently operating GPUs.

Kent's Quote:
So our Prince George site- the entire capacity of that site is being used for our existing fleet of GPUs.

Taking Kent's words at face value leads me to believe that it's probable the company met their ARR guidance for PG of ">500M in ARR by the end of Q1".

When you take into consideration the ARR they exited 2025 with, the number of GPUs in their possession, and the fact that all 50MW were operating GPUs as of late March (per Kent's interview), it allows me to back into the $81.3M AI Cloud revenue estimate.

I'd consider this a major win in their AI Cloud execution, but it won't make up for revenue shortfall from consensus.

How the market trades these (miss) results will depend on....

2) I expect IREN to to announce a deal between now and the earnings call.

Not because I have any inside information, nor because I think they *have* to announce one, but because I think it's the perfect time for "The Three Cs" to realign. The Microsoft deal is fully capitalized. It's past the commercial and capitalization phase, and now deep in the build-out phase. It's the perfect time for the next one:

Capacity: there is 110MW of available capacity at Mackenzie and Canal Flats and another 450MW available at Childress along with everything that just energized at Sweetwater 1 (will be in phases). Their capacity is diverse! They can do liquid and air cooled!

Customers: there is no shortage of demand for compute right now. Every industry metric validates it. They've told us for over a year now that there is appetite from customers for well more than 200MW. In Feb they told us that they have *multiple advanced* negotiations with hyperscale and enterprise customers. That customers aren't a constraint - choosing the right long term partnerships is their focus.

Capital: the balance sheet is strong and supports growth. Capital is lined up wanting to fund DC builds. The company has access to proven multiple sources of capital. Billions of cash on hand, GPUs you can borrow against, data centers you can borrow against, and now even an ATM you can withdraw equity from.

The Three Cs are as aligned now as you could possibly hope for, and I believe there are signs:

- Massive hiring spree all over the world, including now in Australia - 147 active openings. Coupled with the massive marketing campaign down under.
- Disconnecting of 100MW+ of miners at Childress. You don't disconnect that many miners unless you have plans for that capacity.
- Order of 50K air cooled GPUs with 1/3 slated for Childress
- Disclosure of the "multi-billion $ deal with software" at the last earnings call. (This wasn't an accident)
- Sweetwater energization.
-Dan was stateside recently per his tweets at Childress
-At every turn a new story about how compute constrained the world is.

CCCs aligning.

3) I expect/hope for information on:

- Current status of Horizon 1-4. Has Horizon 1 been delivered? If not, why not?
- Outlook for VR200 availability and prospects of MSFT taking the VR200 option.
- Update on the "multi-billion dollar deal with software"
- If they're not going to share what ARR they exited the quarter with, I'd expect an updated contracted ARR number. Last quarter it was 2.3B - I'd expect it to be significantly higher, as I'd expect the last 100M+ at PG to be contracted, and I'd hope they've contracted chunks of the 50K B300 associated with 1.3B of ARR.
- Outlook for Sweetwater - when may we see the first operational MW there?
- We all see the smoke, but are there actual fires in Australia?
- Status of the "other projects in our portfolio that are potentially also included in Batch Zero"

[Scott David @BitcoinzC]

How do you have a ceasefire agreement with no war?

[First Squawk @FirstSquawk]

US HOUSE SPEAKER JOHNSON: US NOT IN WAR WITH IRAN. NO NEED FOR CONGRESS TO WEIGH IN ON IRAN MILITARY ACTION - NBC

[Wall St Engine @wallstengine]

$AMZN: “We’ve never seen a technology grow as rapidly as AI. In the first three years of this AI wave, AWS AI revenue run rate is over $15 billion. Nearly 260 times larger.”

[Scott David @BitcoinzC]

To some extent this is posturing by the US. Iran is preparing (what is most likely the final) proposal, before attacks resume.

Trump is doubling down and expressing his willingness to continue the blockade (which is likely false), in order to strong arm a deal. #iranwar

[WF @WhaleFUD]

Trump’s advisers have told him that a nuclear deal with Iran is unlikely, so he has instructed them to prepare for an indefinite blockade of the country until it capitulates, according to the WSJ.

[Crypto Rover @cryptorover]

HUGE NEWS:

🇮🇷 🇺🇸 IRAN EXPECTED TO SUBMIT A REVISED PEACE PROPOSAL SOON.

PEACE WOULD BE GOOD FOR MARKETS!

[Scott David @BitcoinzC]

lol. A minute before market open.

🤡🤡🤡🤡🤡🤡🤡🤡

[The Kobeissi Letter @KobeissiLetter]

BREAKING: President Trump releases a statement on Iran as US oil prices rise above $100/barrel.

[Javier Blas @JavierBlas]

🚨🚨🚨BREAKING: UAE to leave OPEC+ from May 1

(official statement)

[Khairallah AL-Awady @eng_khairallah1]

🚨 Anthropic's own team just showed how to actually prompt Claude.

24 minutes. free. from the people who built it.

watch the workshop. bookmark it.

worth more than every $300 course you almost bought.

you've been using Claude without knowing 40 of its prompts.

Then read the guide below.

[Mindset Machine  @mindsetmachine]

I keep coming back to this speech once in a while...