Sep. 12 at 2:03 PM
Why I’m actively buying
$IREN dilution dips: my upgraded 2030 price targets
Everyone is a scared baby because of the 6B ATM.
Let me show you that isn’t an issue.
1. Last quarters showed us even higher ARR$ per MW are possible than previously thought, insanely great news for the future
2. Expecting 4GW active in 2030, generating at least 60B in ARR in 2030 (
$15M ARR per MW is conservative)
3. Assuming 5x ARR multiple (less than
$NBIS given worse management/trust)
4. Assuming another FULL 100% dilution
5. Brings me to a base case of
$378
Being scared of dilution for a high capex play is like being scared of getting rich…
They just have to execute