Jun. 4 at 4:33 AM
$IREN is the only AI infrastructure ex-btc miner play where mgmt has signed only GPU leasing deals and has refused all colocation offers. Why is that important? Revenue per megawatt for GPU leasing runs about 5X the revenue for colocation, with approximately 85% ebitda margin on GPU leasing and approximately 90% ebitda margin on colocation. Far more profit/mw in GPU leasing vs colocation.
By buying Mirantis,
$IREN has a software layer like
$NBIS and
$CRWV, and can sell AI compute directly to Enterprise without intervening hyperscaler.
Massive 5.8GW of CONTRACTED renewable power. Who has more?
100% vertically integrated.
$NBIS,
$CRWV aren't.
Now, able to sell AI compute directly, starting with Mirantis' existing book of 1500+ paying customers who need reliable AI compute at scale. THAT'S why they need a PR firm.
Buy.
HODL.
Wait for the market to realize
$IREN IS already a hyperscaler.
HODL some more.
Proceed with purpose.
Wait... Short term value? GTFO 🤣
