Iris Energy Ltd (IREN)

[Whalatane]

I've been watching an interview with Kevin Dede from HC Wainwright re IREN .
Not sure if he was the one that issued the downgrade ...may try and link it later .
In brief Bitcoin miners converting to AI data centers . He thinks they are better equipped to just offer " powered shells " .
They get the power , build out the site and install the GPU's .....but then Fluidstack , MSFT etc actually run it
Says there'd significant complexity to maximizing performance of the data center and questions if IREN is capable of such .
My take ...MSFT wouldn't have agreed to this arrangement unless they felt IREN could maximize performance of the data center .

Question on the Sweetwater campus ( dont remember if thats the MSFT deal or not )...whether that would be a powered shell or they include operation ...ie a Neocloud like Coreweave .
Just my quick take
Kiwi