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It's about to head up over 10
BS short report by culper got this down to 10.20 or so, recovered nicely. 'Investigations' by law firms appearing, as usual, to continue to suppress the stock. I don't think the intended effect will last as long as they mean it to.
One good thing, Iren management will get serious about meeting HPC goals. Major announcement from IREN and JP Morgan today. Long term gold. Anything around 10 bucks is a serious buy. Keeping an eye on Mt. Gox.
The next move is coming up. Road to $23
Made my first call on this when it was 3.89 on Feb 9.
over ten dollars.
congrats to everyone who invested here over the last months.
Outshining every miner today. I see 40 dollars at the top of the bull run.
A monster in the making.
New uptrend day 1
Still an echo chamber. IREN has already joined the top five imo.
Undervalued.
As predicted, but sooner. ATM has ended, 20 e/h fully funded, and reporting quarterly from now on.
Up 20% on a very red day for bitcoin and most miners.
Watch this one. If bitcoin dives, I scale in with more buys.
No one here, but anyway. IREN just increased an existing ATM, which is why it's dipped hard. Going for 20 e/h by 2025. AI infrastructure in place and earning revenue. Dirt cheap energy. Hardcore management.
If it continues to dip for the next week/s, an absolute buy, imo. Or now, as a hold.
In 6 months, this will be one of the top five miners.
they report once every 6 months, which is going to hold them back. When over half their business comes from the US, they'll have to report every 3 months. Like BITF, this one will be slower than the present 'star miners,' until it isn't.
Buying low.
Well, IREN made a move north since my last post...
This is one of the future greats. Kind of under the radar right now.
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The company is Iris Energy (IREN).
Iris Energy is an Australian-based bitcoin mining company that is a newcomer to the bitcoin mining world, but which has the potential to turn into an industry powerhouse by 2023.
For context, bitcoin mining companies are firms that acquire and/or build huge data centers, and apply that compute power to solving bitcoin hashing algorithms. For solving those algorithms, these mining companies are rewarded with bitcoin. In short, these companies leverage big computers to solve hard math problems in order to win bitcoin. Their revenue is the value of the bitcoin they mine. Their costs are the costs it takes to mine those bitcoin.
The bitcoin mining industry is very crowded. Iris Energy is a relative newcomer to the industry, with an operational compute power – dubbed “hash-rate” in the industry – of just 0.7 EH/s, good enough for a measly 0.4% share of the bitcoin mining market.
However, Iris Energy has three big things going for it:
First, the company’s mining operations are based on renewable energy. Its first data center in British Columbia is powered by 98% clean energy. All future projects will have similarly high clean energy power rates.
Second, Iris Energy doesn’t hold Bitcoin on the balance sheet, unlike many other miners. Iris liquidates all of its Bitcoin holdings, thereby producing instant cash flow which can be re-invested into scaling data center infrastructure, improving the hash rate, and ultimately earning more bitcoin.
Third, Iris Energy has secured contracts to bring on 15.2 EH/s of miners over the next two years. Therefore, the company’s hash rate will grow by more than 20X into 2023.
Iris Energy went public via an initial public offering in November. The IPO price was $28. The current stock price is $13 and some change. The company is valued at around $800 million, about half of its IPO valuation.
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