Mar. 26 at 3:42 PM
$CIFR is choosing sleep-well-at-night over moonshots.
They just locked in a 15-year lease with another hyperscaler. Third in months. After the
$5.5B AMZN deal and the
$3B Fluidstack deal (w/
$GOOGL backing), the model is crystal clear: Colocation.
But here is the brutal math from the
$IREN CEO:
AI Cloud (Owning GPUs): ~
$10M per MW
Colocation (Renting space): ~
$1.5–2M per MW
Yes, the upside cap is lower. But with a
$1.86 52-week low and current
$15.11 price, the execution risk is near zero. They are building the "picks and shovels" empire. Slow, steady, and backed by investment-grade balance sheets.
