Marc

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[Marc @Marc_750]

At other miners like $CIFR $HUT the stock price is flying.
For $IREN it’s just @danroberts0101 in his jet…
Outperformed for three months and underperformed for nine.

[Marc @Marc_750]

@jordan_ross_8F SEO

[Marc @Marc_750]

@LEADER_TRADING

[Marc @Marc_750]

@william26694 @danroberts0101 I was more referring to his big paydays that he got *after* meeting very very ambiguous targets in the past

[Marc @Marc_750]

$NBIS 🟢 +7% - YTD strong - clear vision.

$IREN 🔴 -2% - YTD mediocre and one of the worst communication ever and multiple strategic back and forth.

@danroberts0101 and his (never seen) Brother -> one of the largest salary packages ever. They have no shame.

[Chris Floyd @CDavidFloyd]

At $IREN, the Roberts brothers just raided shareholders of $788M to pay themselves while at $NBIS, they responsibly raise $775M instead of diluting shareholders. Big contrast @danroberts0101

[Marc @Marc_750]

I do think $IREN has a strong future. I also think the management in general is not bad. But they basically think they‘re the 2018 or 2022 Elon Musk. However, they’re more the 2012 Elon Musk if any.

So perform first and get paid outrages amounts of money. Fine. But underperforming and such a packages. Please…

[Marc @Marc_750]

@AlexisWrem1747 Well I can agree with one. The other one (almost highest paid CEO ever) could very well just be on a surfboard at the beach the whole day. Never seen anything work related of him actually lol

[Marc @Marc_750]

$IREN record number of red days in the last 30 days. Stock performance since the last 10 month mediocre.
But yeah. I’m sure @danroberts0101 and Will deserve a historical unconditional share package.
Can’t wait to see what package will come next year when the stock trades at 20. Half the companies shares maybe?

[mon @moninvestor]

$IREN - This is a letter to shareholders from IREN's independent chair on the co-CEO pay package.

We definitely needed a response. Hopefully we can move on now and focus on the company.

[Marc @Marc_750]

@DeepValueBagger I respect your takes here in stocks and investments but what’s that hate about recently?
He just summed up informations people received from the summit in Paris.

What’s wrong with that? Would be nice if you could come back down from your high horse and get back to your early informative takes

[Marc @Marc_750]

@FransBakker9812 @BTCBULLRIDER That aged pretty well. Guess you didn’t think the „they will award themselves“ part will be done so criminally

[Marc @Marc_750]

@roberto45580514 @AlphaTrader00 He always buys back in the lows and sells at the highs. Never misses lol

[Marc @Marc_750]

@mikealfred Especially since IREN now has like 9 Chiefs of everything

[Marc @Marc_750]

@mikealfred appreciate that you communicate here. No offence but Will could be a hidden mastermind, work maniac or he is surfing on a beach in Australia everyday.
Given he is probably the CEO with the highest payment that was barely ever noticed it would be great to hear what his responsibility is. I mean does he even attend the Earnings Calls? I saw him once in a promo video on a party and that’s it.
$IREN

[Marc @Marc_750]

We are all angry about the RSU amount and the board. But what if @mikealfred „defended“ us already and the greedy @danroberts0101 asked for way more? 😂 by now it wouldn’t surprise me if he asked for double, a corporate jet and what not..
$IREN

[Neel Khokhani @neel_epochal]

I've held $IREN since it was Iris Energy at $7 in 2022. Rode it to $1. Kept buying. Averaged $3–4. Today I hold 703,000 shares likely one of the largest private individual positions outside the founders.

So believe me when I say this comes from a shareholder, not a critic:

I am appalled by the compensation package the board just tabled — 9.1 million RSUs each for the Co-CEOs. 18.2M units combined. Roughly 5% of the company. ~$700M+ at current prices.

Time-vested. Not performance-vested. Show up for four years, collect.

@danroberts0101 and Will have executed brilliantly Microsoft, NVIDIA, Childress. And shareholders have already paid them for it: highest-paid CEOs in Australia in FY24, billionaires alongside us on their existing equity.

But a board exists to negotiate on behalf of shareholders, not to ratify whatever retention math a compensation consultant produces. Diluting every owner by ~5% with zero performance hurdles after stripping the performance conditions out of prior PRSUs in 2025 is a governance pattern, not a one-off.

Founders who preach alignment should welcome shareholders who insist on it. @mikealfred @MikePowerX

[Marc @Marc_750]

You have a point. It’s still a huge package. So I guess mixed feelings about it are normal. And they act like they’re Elon Musk but so far didn’t deliver like him.
So size bags for me also the question what Will is doing for it? No offence but you never see him and they now have like 9 Chief of something for everything. So what’s actually left for him?

[Marc @Marc_750]

Wouldn’t be surprised if @danroberts0101 announces a corporate jet purchase via additional dilution
$IREN

[Mike Alfred @mikealfred]

Connected with the CEO of one of the leading AI data center companies and he said he finds this price action "comical" as literally nothing has changed in the business from a fundamental standpoint. We've gone through this many times over the last 3.5 years and always recovered.

[Marc @Marc_750]

@danroberts0101 always talks about „optionality for deals“ but when it comes to his shares and comps it’s like „nope, everything is fixed. No conditions“
$IREN

[Oli @OInvests]

Before forming a strong opinion on $IREN’s RSU structure - worth benchmarking against three of the greatest CEOs in tech.

Elon Musk - zero salary. Zero time based RSUs. 12 tranche stock option plan requiring Tesla to hit market cap milestones starting at $100B alongside operational targets simultaneously. If $TSLA didn’t explode, Musk got absolutely zero.

Jensen Huang - hybrid model. Half his equity via Performance Stock Units scaling up or shrinking based on annual revenue targets and gross margins. His total package actually shrunk 27% recently due to shifting equity valuations. Operationally focused not stock price focused.

Peter Beck - the gold standard. Slashed his salary to $1. Voluntarily forfeited $22.5M in unvested RSUs. Redirected that capital straight into $RKLB R&D. Gets rich only if the stock appreciates over the next decade.

Now look at Dan and Will Roberts.

9.1 million RSUs each. Purely for remaining employed over the next four years. No ARR targets. No GPU deployment milestones. No revenue hurdles. No relative stock performance requirements.

Of the four - $IREN Co-CEOs are the only ones whose compensation is completely disconnected from performance metrics.

The board’s argument - a six year lockup is a cleaner constraint than complex operational targets during a business pivot. Preventing governance battles allows focus on execution.

That’s a reasonable position. But it removes the explicit accountability mechanism.

$IREN has guided $4.4B ARR by end of 2026. That target exists. Tying executive compensation to it would have cost nothing and aligned everything.

The question shareholders should be asking : why wasn’t it?

$IREN

NFA

[Marc @Marc_750]

Please. What good does this current management approach do?
Change your plan. Think bigger. Fine.
But the current communication is bad. Really bad.
Spending money for questionable things without an explanation using ATM. Cmon you don’t like that either @tempocap2 As a CEO your job is also to communicate what’s your plan.

[Marc @Marc_750]

@TheBigDegen Be honest @TheBigDegen . Are you happy with the Mgmt @danroberts0101 and especially their communication right now?

[Marc @Marc_750]

$IREN just announce that you‘ll built Horizon 5-6 and SW next year with the new Rubin chips and $NVDA to serve enterprises directly and we can all have a nice summer again

[amit @amitisinvesting]

Woah.

Nvidia $NVDA just created a new line of business for themselves.

So, all those neoclouds like $CRWV $NBIS $IREN $APLD $SPCX that have been getting deals with hyperscalers worth billions?

It’s because demand for compute, according to Jensen, is growing at a level that is beyond imagination. So, companies need to secure more compute.

But, many of these neoclouds are struggling to finance large GPU deployments, even after securing long-term compute demand.

So…Nvidia is going to help them out and share in the upside.

“This new model enables AI clouds to procure NVIDIA infrastructure for AI-native, enterprise and ISV customers through economic alignment with a revenue-sharing and credit-support model. Through the partnership, AI clouds will sell NVIDIA-powered cloud services, with NVIDIA earning both standard product revenue and a share of the cloud revenue on the supported capacity. This structure accelerates adoption of NVIDIA platforms among the high-growth, high-conviction AI native sector, and provides NVIDIA with a recurring, usage-linked earnings stream.”

Looks like Nvidia is going to make sure the best neoclouds don’t fail and this also shifts from a one-time GPU sale to a recurring, usage-based revenue stream…which just creates many more longer-term monetization opportunities.