T2C

Building @TimeToCompute — mapping the AI buildout & surrounding news 📰⚡️ & - Helping you buy better 💸

[T2C @TimeToCompute]

Upcoming earnings calendar on T2C: (https://t.co/ZRqIJalBYy)

$CIFR $IREN $KEEL $WULF - all within the next two weeks.

🎢🎢🎢🎢🎢

[Frans Bakker @FransBakker9812]

Mackenzie currently has 4×20MW data halls (80MW). A 2022 $IREN rendering showed a 5th, taking it to 100MW.

I'd love for it to be that simple, but would a single building generating $400M+ ARR explain the massive grading underway?

Immaterial, or crucial?

[Golden State Warriors @warriors]

DUB in Denver 💥

@IREN_Ltd || Final Score

[T2C @TimeToCompute]

@saralucijad 👋👋yes pleaseeeee 🤭

[T2C @TimeToCompute]

@prinxecharles @PolitlcsUK 😂😂😂

[franklee6924x @franklee6924T]

NVIDIA will establish the overall standards, but IREN can develop engineering-level implementation standards. These practical engineering standards will gradually take shape as the DSX ecosystem evolves and matures. If companies want to deploy products based on the DSX ecosystem in the future, the ability to rapidly build the supporting infrastructure will be crucial, as it will enable computing capacity to come online quickly.

IREN’s ability to bring computing capacity online rapidly opens up an entirely new dimension of opportunity—not just for itself, but with the potential to extend its impact across the world.

[T2C @TimeToCompute]

@nowaybruhhhhhhh @Only_A_Relax @mike_retai84440 @PolitlcsUK 😂😂 “it was just magic beans mate!”

[T2C @TimeToCompute]

@MehdiHacks Agree, but I often find myself going back and forth.

[T2C @TimeToCompute]

@DiligentPlane You becha. Proper V up to Elon

[T2C @TimeToCompute]

@IREN_Bull @elonmusk He’s certainly going to try & has significant resources. Whether he succeeds depends on his approach - I don’t think the one he’s taking now will work out favourably.

[T2C @TimeToCompute]

How ironic is it that @IREN_Bull was right about @elonmusk only a few days earlier:

Just to think, here was me defending him 😮

In retrospect, I should have seen the sign - Elon was literally politically lobbying at the time. 🤭

$IREN $SPCX

[T2C @TimeToCompute]

@franklee6924T @danroberts0101 I think we’re in for a really exciting few years. I like the fact there’s potential to create new ARR streams whilst also strengthening the brand.

[T2C @TimeToCompute]

$IREN’s next growth engine could be AI factories it never has to own.

Here’s the idea @danroberts0101

Build an operating business for sovereign funds, utilities and infrastructure investors that have the capital and power—but need someone to turn them into working AI infrastructure.

The proposition:

“You own the AI factory. IREN makes it work.”

Imagine a partner in a politically stable, energy-rich market saying:

“We have land, power and $5bn. We want our own sovereign AI infrastructure.”

Money buys equipment. It doesn’t automatically deliver a functioning, commercially competitive AI cluster.

Someone still needs to connect everything:

Power → substations → data centres → cooling → GPUs → networking → commissioning → cloud software → reliable daily operations.

That is where IREN could productise the expertise it has been building.

The partner funds and owns the assets. IREN leads development, coordinates delivery, commissions the cluster and operates it under a long-term agreement.

IREN could earn:

• Design and development fees
• Deployment and commissioning fees
• Recurring operations and management fees
• Software integration and support revenue
• Performance fees for energy and cluster optimisation
• A potential share of compute revenue where it helps secure customers

The attractive part is the recurring relationship after construction finishes.

Every new partner-owned factory could add years of operating revenue without requiring IREN to fund the entire asset base.

Build once for yourself. Turn what you learn into a business you can sell repeatedly.

And this gives the sponsorship strategy a much more interesting potential purpose.

🏀 Golden State Warriors: bring the AI ecosystem into the room.

Use hospitality and events to convene prospective compute customers, NVIDIA ecosystem partners, investors and infrastructure owners.

A carefully chosen room could contain the company that needs compute, the investor willing to fund it and the team capable of delivering it.

IREN could be the company connecting all three.

⚽ Real Madrid: take that proposition to a global audience.

Use the platform to host utilities, sovereign investors and infrastructure funds considering their own AI buildout.

The wider commercial ecosystem including brands such as Emirates provides a setting for international relationship-building. It doesn’t guarantee access or contracts; IREN would need a deliberate programme to turn visibility into qualified opportunities.

Show prospective partners an operating cluster. Walk them through the economics. Explain the delivery plan.

Then put a concrete offer on the table:

“Your capital. Your power. Your AI infrastructure. Operated by IREN.”

That is how sponsorship could become a business-development channel with measurable outcomes: introductions, proposals, signed mandates and recurring revenue.

The differentiation would come from taking responsibility across the whole delivery and operating process.

Plenty of companies can supply an individual component. The valuable proposition is having one accountable operator bring the pieces together—and keep them performing.

IREN would need to prove it can repeat that across other people’s sites, with disciplined contracts and without absorbing their construction, funding or demand risk. Execution would be the moat.

Start with one flagship partner project. Establish the model. Make the next deployment more repeatable.

IREN could keep owning strategic sites where ownership offers the strongest returns, while using partner capital to expand its operating footprint elsewhere.

Own where the returns justify it. Operate where others want to own.

Over time, that could add a second question to the investment case:

“How much infrastructure does IREN own?”

And:

“How much of the world’s AI infrastructure runs under IREN’s management?”

The first grows an asset base.

The second could build a global operating business.

TimeToCompute

[T2C @TimeToCompute]

@JTR1312 @PolitlcsUK Maybe we should utilise economies of bean scales and bring tankers of beans over in bulk, we could then automate the bean production line, and switch to lights off packaging and storage for the beans

[T2C @TimeToCompute]

@Reacheruno4 @PolitlcsUK 😂😂😂😂😂

[T2C @TimeToCompute]

@OInvests @danroberts0101 It’s certainly not Dans first rodeo with large scale developments.

[T2C @TimeToCompute]

@franklee6924T @danroberts0101 I certainly hope they decide to progress this concept. I feel as if they could set the ‘Iren Standard’.

I’d be interested to read what you write!

[T2C @TimeToCompute]

@franklee6924T @danroberts0101 Couldn’t agree more sir 🫡

[T2C @TimeToCompute]

Why I take @danroberts0101 of $IREN seriously when he talks about building AI infrastructure at scale.

Before founding IREN with his brother Will in 2018, Dan had built a career financing, investing in and overseeing major infrastructure.

Airports. Wind farms. Solar farms. Gas pipelines.

Assets requiring substantial capital, technical expertise and reliable operations.

That background matters when your business involves turning land, power and billions of dollars into functioning AI infrastructure.

Start with Macquarie.

Dan spent six years across M&A advisory, debt structuring and principal investment, working in infrastructure, real assets and renewable energy.

Experience directly relevant to the decisions IREN faces:

How should projects be financed?
Where should capital be committed?
How should risks be allocated between investors, lenders, contractors and customers?

He also holds a Master of Finance from INSEAD, where he made the Dean’s List.

Then came Palisade.

Dan became an executive director and the second-largest individual shareholder of Palisade Investment Partners.

A 2020 account described the business as managing A$8bn of infrastructure across 23 businesses.

His responsibilities included originating opportunities, business development and overseeing portfolio assets.

That was Palisade’s portfolio value—not construction personally delivered by Dan. His experience was in making major infrastructure investment decisions and overseeing assets.

His board roles included Northern Territory Airports, Sunshine Coast Airport, Granville Harbour Wind Farm, Ross River Solar Farm, ANZ Terminals and the Tasmanian Gas Pipeline.

That is a substantial foundation in infrastructure leadership.

Now look at the team around him.

Michael Nudelman joined as Chief Development Officer with more than two decades of experience and senior roles at Google, CyrusOne and Beale Infrastructure.

His remit includes global data-centre development, site planning, permitting and economic development incentives.

John Gross, Chief Innovation Officer, brings specialist expertise in data-centre engineering, high-density infrastructure and liquid cooling.

His work on liquid-cooled servers dates back years, well before the current AI investment cycle.

Dan brings infrastructure investment and oversight experience. The team adds specialist development and engineering capability.

There is delivery behind the ambition.

IREN reported in August that Horizon 1—a 50MW liquid-cooled deployment at Childress—had been delivered to Microsoft.

That moves the story from securing land and announcing capacity to delivering infrastructure for a major customer.

The $9.7bn Microsoft agreement provides a substantial commercial foundation.

Mirantis adds software and cloud-services capabilities.

The NVIDIA relationship connects IREN’s infrastructure ambitions with the ecosystem supplying the compute.

IREN is bringing the pieces together:

Power → development → cooling → GPUs → networking → software → operations.

A co-CEO overseeing this expansion needs to recruit specialists, allocate capital, structure agreements and establish accountability across an enormous programme of work.

Dan’s career provides relevant experience for those responsibilities.

For me, the bullish case is the combination:

An experienced infrastructure investor leading the company.
Specialists with major industry credentials.
Large customers committing to its services.
Physical delivery demonstrating progress.

From two brothers founding an Australian company to delivering AI infrastructure for Microsoft.

Dan’s background helps explain how IREN reached this point—and why I’m excited to see what the team builds next.

$IREN

Sources below:

[T2C @TimeToCompute]

@RT_Visual_on_X Lmao, like ‘R U SRS RN’

[T2C @TimeToCompute]

@unusual_whales What bullshit mate, students want more 2 for 1 cocktails in whatever the French equivalent to Wetherspoons is not actual education shit.

[T2C @TimeToCompute]

@PolitlcsGlobal Has she been taking ketamine with @elonmusk again?

[T2C @TimeToCompute]

@mike_retai84440 @PolitlcsUK Hahah im only joking bud. Just bantzis