Crypticpony 🟧

[Crypticpony 🟧 @crypticpony]

@BTC_Bella69420 Well that was quick, congrats!

[Crypticpony 🟧 @crypticpony]

What a week for $IREN
Impeccable execution. Proud to be a shareholder and see Dan and Will's vision play out

MSFT as the anchor tenant
Not even a neocloud, but one of the Big 3 CSPs
Bootstrap DCs with mining > MSFT & Dell to build out DCs

Every deal now has a floor. It only gets better from here

All eyes on earnings tomorrow
Wouldn’t surprise me if $IREN discloses pipeline beyond interconnected MWs. Demand is at ATH and the biggest customers want room to grow

My spidey sense says they have something even bigger lined up

$IREN’s been a few steps ahead all along

Dan: “We set about building a very large portfolio of data center projects and sites”
Now we’re seeing exactly why

[IREN @IREN_Ltd]

$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

[Crypticpony 🟧 @crypticpony]

I have learned so much from @mikealfred. Thank you

[Dan 🤖🌥❤️ 🚀 @mcF_dan]

Here is the updated post of Mike's Epic Speech on Mining Mafia's Sunday night space for $IREN. (Posting this with @mikealfred 's permission). Its pure poetry with parts philosophy, conviction, and rallying cry. 📣

"I'm listening to you guys right now. You guys help me learn so fast. I'm listening to you, and I'm realizing that one of the only things in the economy that AI cannot disrupt is physics. It cannot disrupt the universal laws of nature. That's just such a beautiful thing when you think about it. People are so worried about AI disrupting everything, but it cannot disrupt the fundamental laws of reality, like gravity and thermodynamics.

I think when you deconstruct a lot of this stuff, what you get back to is that there are some companies, some people, who are building platforms that allow you to consistently, over long periods of time, generate value, irrespective of what anyone else is doing, because you are literally on the side of physics. You're on the side of the universal laws of the universe. There are other people that are selling smoke and mirrors and magic and magic tricks that appear, for periods of time, to be running faster than the physical laws of the universe, but ultimately end up reverting back to whatever those physical laws are.

I'm listening to the conversation and I'm loving it. As I said many times, I'm so proud to be part of this community. This is among the smartest people I've ever been around in any context of my professional career. Some of the smartest people I've ever met are in this room right now.

What I would say to all of you is, look, if you're here listening to this right now, you've already won. You've already won bigger than you understand. Now, do you want to win bigger in terms of certain particular metrics in your own life? Absolutely. But I'm just going to tell you right now, you're not going to have to wait that long. You're just not going to have to wait (laughs). You're not going to have to wait very long to find out that a lot of the things that we've all suspected for a long time are true.

But in the meantime, for the next 24, 48, 72 hours, whatever it takes to find this out, we can continue to argue about points that are going to end up just being solved. It turns out that just like the laws of nature—gravity, thermodynamics, etc.—certain things just happen and then there's nothing else to argue about. So I think a lot of what we're talking about today—and again, I'm so proud to be part of this group and to be invested, co-invested with many of you and these companies—the reality’s just going to prove itself out. You're going to see, maybe this week, maybe soon, that a lot of what we believe to be true is true.

And I think the thing that I'm realizing—and I've tried to say this without saying it, there's only so much I can say, but I say it anyway because I just believe so much in this space. As an independent investor, I look at it independently, not just because I'm a part of it. I look at it independently and I'm just saying, I think it's way, way bigger, actually. And I'm saying that not to encourage anyone to do anything dumb, like do not take bigger positions, do not buy call options.

I'm saying this, like, imagine we're sitting around a campfire as friends, I'm telling you from what I see from the inside, like, it is so much bigger than I thought it was. I thought it was big, like, four years ago, I thought it was going to be a really big space. I was willing to bet my whole career, like, my whole reputation on the space. And now I'm here, and I'm telling you, I think it's bigger. Like, I think I was probably too bearish even three months ago. It's accelerating day over day right now.

I used to say month over month, and then a couple of weeks ago, I started saying week over week. And now I'm saying it's day over day. Like, it's just, it's getting bigger. You know, the podcasts are just a manifestation of what we all knew to be true three, four, five months ago. Like, we were talking about the same thing. We didn't need Satya Nadella to tell us it was big, right? We didn't need any other external party to tell us it was big. We knew it was big. That's why we're here. We're here because it's fucking huge.

It's maybe the biggest technology trend period in human history. There’s plenty of life left and we're lucky enough to be here. There’ll be people in later generations, maybe there’ll be bigger technology trends 100 years from now, I don't know. But I'll tell you, for most of human history—go back to the 14th century, 15th century—nothing happened for like a century. Nothing even worth writing about in a history book happened for a century. And now we're making new records like every week, every month. So we should be very excited to be here.

I think it's not close for me, even separate from my board affiliation. When I just look clearly, like with a really clear-eyed view on this space, IREN is a different beast than every other company in this space. There are companies that are running, they think they're running really fast. And I just put IREN's pace back to those companies on the same slide and try to look at it objectively. And even when I try to make the other companies look better, they're, like, fumbling around. They are fumbling the football, they are struggling to get past the 20-yard line and IREN is like scoring the seventh touchdown of the afternoon of the second quarter.

And so look, what can I say, I got lucky. I talked to 30 teams in 2021, 2020, and I liked IREN the best. And so when I had an opportunity to get involved, I joined. I joined up. Did I know for sure that they would execute as well as they have? No. But now when I look at the field, do I see anyone executing at the same level? No. Just categorically, no. There's nobody even in the same arena. There are people in other arenas, but there aren't anyone in the same arena playing the same game right now.

So I'm very—like I said at the outset—I'm very proud to be part of this community. I think this is among the smartest groups of people that I've ever been associated with in any context. I think you will all be validated for your belief, for your opinion, for the work you've done. I think that process will play out faster than you think. I think everybody here, if you've been here for two, three years, it feels like it's slow. But I think when it actually goes fast, it's going to go faster than you think.

I look forward to doing this space again in a week, because I actually think a week from now, this conversation will be very different. But that's the nature of these things—that's the nature of building companies, the nature of participating in major trends. You may think you know, you may think you know how big something is, but you may be surprised. You may discover later that you were right, you sniffed up the right tree, but even you—and I say this a lot—even the bull sometimes underestimates the strength of a trend.

I'm seeing it from where I sit that this is bigger than—I’ve been listening for the last, I don't know, 30, 45 minutes, but I came home and I just turned this on and I'm listening. And I know everybody here is bullish, but I'm telling you, you're not bullish enough. You're just not. There's just no way you could be because it would seem insane, and nobody wants to appear to be insane. Everybody to their peers wants to look smart, and they want to look thoughtful and balanced, and everybody wants to appear normal.

Everybody claims they want to be exceptional, but in reality, everybody wants to be normal. Nobody wants to be exceptional. Everybody wants to be considered normal amongst their peers. If you get judged as being unusual, that's a bad thing in most circles. What happens is you dumb down and you lower your thinking to the lowest common denominator. You essentially dumb yourself down.

People do this at grade school because they're extremely smart. They don't want to appear smarter than their peers because then it means they're different. The same thing happens when you're investing. You don't want to be the best because it's weird. You're saying $1,000 price target and other people are saying $50. You're like, well, these analysts are getting paid a lot of money to put on a $50 price target. Maybe they downgrade to $24 or whatever next time.

I think the price is $1,000. When the price was $1, I think it's $200. And people are going to call me crazy, and they're going to say, you're dumb because you don't know what you're talking about. There's no way you can know. How could you think a stock that's $1 could go to $200? But then it goes to $74, and then it goes to $100, and then there's a $120. What are they going to do? Raise their price targets later. And guess what? It'll be super safe to say $200 when it's $150. But at $1, you sound insane.

And all I'm telling you is that people who make the most money don't give a shit. Nobody cares. I don't care about being accepted. I don't care if anyone likes me. I don't care if I'm part of the group. I do love the people in this community. But candidly, a lot of the people that are so-called part of this community would have thought I was insane three years ago if I told you what I thought was going to happen.

And so you just have to remember that. When it's safe, and the path is clear, and it's obvious—and I really think, again, like a week from now, if we do this on Sunday night again—it’s going to be a different conversation on Sunday night after this. It's going to be a different conversation after that. Every single time it's going to be different, and the Overton window is going to shift because the more the price goes up, the more obvious it is that what we were saying was true happens and everyone's going to agree with us.

So are we going to like it more when thousands of people we don't know are here a year from now? Are we going to like it more when the stock price reflects what we believe, or are we going to be like, holy shit, why was I so bearish? Why didn't I buy more? Why wasn't I a bigger believer? Because now there's a bunch of idiots that showed up a year or two later at much higher prices who now believe in what we thought two years ago.

And so look, as I said, this group is exceptional. I'm so happy to be here. I'm so happy to see that we're going to be validated. That time is coming very quickly now. There's only so much more I can say at this point, but I look forward to connecting with all of you again very, very soon to compare notes on what happens next. And that's all I'll say for tonight, but enjoy the rest of your Sunday night."

- Mike Alfred

[Crypticpony 🟧 @crypticpony]

@JoeCarlasare 100%, Mike has been incredibly generous in helping people learn

[Crypticpony 🟧 @crypticpony]

@mikealfred Did you script Satya? He’s saying exactly what you’ve been saying for some time

[Michael Saylor @saylor]

S&P Global Ratings has assigned Strategy Inc a 'B-' Issuer Credit Rating (Outlook Stable) — the first-ever rating of a Bitcoin Treasury Company by a major credit rating agency. https://t.co/WLMkFqkkCb

[Crypticpony 🟧 @crypticpony]

@mikealfred This is technically before Monday but not the type of pre market announcement I like

[Crypticpony 🟧 @crypticpony]

@JeffLaberge4 I liked that the first A4 design was taped out. Very interested in the second design and waiting impatiently to hear!

Other pros: A3 manufacturing is starting, continued self-mining progress, signaling more focus on AI

[Crypticpony 🟧 @crypticpony]

@danroberts0101 Well done! These are great terms

[Crypticpony 🟧 @crypticpony]

$25Bn from OpenAI for 500 MW in Argentina in "one of the largest technology and energy infrastructure initiatives in the history of Argentina"

It's no wonder the $IREN narrative is picking up. 810MW operational, 650MW in pristine West Texas

Execution + 2.1GW contracted + more in pipeline

[Oficina del Presidente @OPRArgentina]

El Presidente Javier Milei recibió en Casa Rosada, junto a Demian Reidel, a representantes de OpenAI, quienes le anunciaron el lanzamiento de Stargate Argentina, un proyecto pionero de infraestructura de Inteligencia Artificial que situará a la Argentina a la vanguardia del ecosistema global de inteligencia artificial.

En este marco, OpenAI y Sur Energy firmaron una Carta de Intención para colaborar en un proyecto de Data Center a gran escala capaz de albergar la próxima generación de computación de IA y alcanzar una capacidad de hasta 500 MW.

Estructurado en el marco de RIGI, el proyecto supondrá una inversión de hasta 25.000 millones de dólares a gran escala, lo que lo posiciona como una de las mayores iniciativas de tecnología e infraestructura energética en la historia de Argentina.

[Crypticpony 🟧 @crypticpony]

@scludweed @BTC_Bella69420 thoughts?

[Crypticpony 🟧 @crypticpony]

@FransBakker9812 It’s a great logo too, it stands out

[Frans Bakker @FransBakker9812]

$IREN
Do you want your logo on the top or bottom row?
"yes"
This is it, assert dominance. There is no second row.

[Mike Alfred @mikealfred]

Next week is a big Oracle cloud event. One has to wonder if Oracle is doing a deal with CIFR and if they are rushing to finish and announce in advance.

[Crypticpony 🟧 @crypticpony]

When I started investing in the miners, the market cap of all public companies together was ~$20Bn. I knew that couldn’t be right. All that capacity trading for less than one medium-sized software company

Today the industry sits at $70Bn, still not that large. In between Autodesk and Airbnb’s market cap

We’ve had a minor re-rating to date. There’s growing attention on energy demand and a few deals have been signed, but that’s it. There’s still disinterest and disdain, which means miners are still trading at a discount. Happy to take advantage and wait

[Crypticpony 🟧 @crypticpony]

@PropsNStocks @Umbisam What made you think bakkt?

[Crypticpony 🟧 @crypticpony]

@philliplord1 @Akshay_Naheta Congrats Phillip! Looking forward to hearing more

[Crypticpony 🟧 @crypticpony]

@mikealfred Market catching up

[Crypticpony 🟧 @crypticpony]

@LouBasenese @mikealfred @j_fishback @investazoria @X Thank you! I’ll be watching tonight