$IREN is pleased to announce the signing of a $9.7bn AI Cloud contract with @Microsoft
Key details of the transaction:
- $9.7bn AI Cloud contract value
- 5-year average term
- 20% prepayment
- 200MW (IT load) data centers
- NVIDIA GB300 GPU deployments
Refer to the press release and accompanying presentation below for further information
Press Release: https://t.co/3pG9N2HfkF
Presentation: https://t.co/uyysnL9ffS
Great interview providing the bullish thesis for $IREN. Unlike their competitors such as $NBIS and $CRWV, they own and operate their own locations and infrastructure. Think about that for their bottom line. AI Datacenter demand is at an all time high. Take a moment to listen https://t.co/idtPGpNPC1
$IREN
•Bitcoin mining and AI data centers powered entirely by renewables, enabling low-cost power at ~$0.038/kWh and appealing to sustainability-conscious investors.
• Strong Financial Momentum: Achieved record Q3 revenue of $148M and net profit of $24M, with positive operating cash flow and gross margins of 70-75% at current Bitcoin prices.
• AI and HPC Expansion: Diversifying beyond mining into AI cloud services, securing multi-year contracts for Nvidia Blackwell GPUs and projecting $32M in annual hardware profit.
• Operational Efficiency and Growth: Low breakeven Bitcoin production cost (~$34K-36K per coin), rapid hashrate increases (targeting 50 EH/s by mid-2025), and institutional ownership up with net positive flows.
• Bullish Market Positioning: Stock shows buy signals from moving averages, high positive momentum, and ~460% YTD gains amid crypto and AI surges.
@j_c_j_c1@amitisinvesting@fundstrat I’m up alot on BMNR, what are you talking about? Big institutions hate to see retail winning and send out dumb FUD reports hoping to scare everyone