πππI did not buy IREN $IREN Ltd(IREN)$
What IREN Does and Why It Resonates
Founded in 2018 by Daniel and Will Roberts in Sydney, IREN began with a radical idea: build sustainable data centers powered by 100% renewable energy. It started with Bitcoin mining by using hydroelectric power in British Colombia, Canada and evolved into a vertically integrated infrastructure company.
Today IREN is a dual engine powerhouse: one side mines Bitcoin and the other powers AI workloads with cutting edge $NVIDIA(NVDA)$
Q2 FY 25: The Quarter That Changed Everything
Revenue surged 181% to USD 119.6 million.
Net Income was USD 18.9 million, a dramatic turnaround from last year's loss.
EPS : USD 0.09, beating forecasts.
Adjusted EBITDA : USD 62.6 million with USD 53.7 million in operating cash flow.
Bitcoin mining revenue : USD 113.5 million.
AI Cloud revenue doubled QoQ to USD 7 million.
IREN isn't just profitable. It is proving that its dual engine model works. Mining funds the balance sheet. AI fuels the future.
The Nvidia Partnership: Infrastructure Meets Imagination
IREN is now a Nvidia Preferred Partner, operating 10.9K GPUs including H100s, H200s, B200s and the revolutionary GB300 NVL72 system. It is deploying these GPUs at its Prince George site, backed by USD 96 million in non dilutive financing.
This isn't just a tech upgrade. It is a strategic leap. IREN is building the pipes for the AI revolution, with nearly 3GW of grid connected power and the ability to scale to hundreds of thousands of GPUs.
Share Price Performance : From Underdog to Outlier
IREN's share price has defied gravity. It is currently up 24% this week and has skyrocketed 153% year todate. In 2024 IREN has jumped a huge 234%.
IREN's current price is USD 26.48, up from a 52 week low of USD 5.12. That is not just performance. It is transformation.
Analysts are Catching Up But I Was Already There
Wall Street is waking up to what I saw months ago.
Consensus rating : Moderate Buy with 9 Buys and 1 Strong Buy.
Average Target price : USD 20.89 with highs reaching USD 33.00
Some see short term volatility but I see long term velocity.
I did not wait for upgrades. I trusted my gut. I saw the scale advantage, the GPU ramp, the AI Cloud guidance of USD 200 million to USD 250 million run rate by year end. I saw a company building the infrastructure for the next decade and beyond, not just chasing the next cycle.
Conviction over Consensus
IREN isn't just a stock in my portfolio. IREN is a symbol of how I invest - with intuition, clarity, courage and emotional resilience.
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