Even if IREN gets to 0 BTC mining rev, which Iβm not convinced they ever will, if BTC runs to $500K+ the market will not forget that IREN has the ability to dominate the BTC mining industry. They could easily point any one of their sites towards mining if it became profitable enough. I donβt believe the days of bitcoin competing meaningfully for global power supply are over. IREN will benefit, either directly or indirectly, from increasing demand for HPC regardless of the application.
I think that it is very possible for bitcoin:native to go up 5-10X in the next few years.
If that happens, I would expect $IREN to do at least a 10-40X.
Timing the trade from IREN to BTC wonβt be easy, but that has become my focus.
I'm imagining the bears who think that Bitcoin is so weak that if you buy 4% of it and talk a lot, you can destroy the whole network.
It's not even a person, but a group. Bought 4%.
Like, somehow the key weakness of Bitcoin is that if someone buys 4% of it, everything fails.