$SpaceX(SPCX)$
That's the kind of setup that keeps me watching IREN.
The playbook looks similar: secure power, build data centers, turn electricity into high-value compute.
IREN now has a 5.8GW development pipeline, while only targeting 480MW of AI Cloud capacity by year-end 2026. That small slice alone is expected to generate $4B+ ARR.
If more of that 5.8GW gets monetized, the upside could be massive. From where I stand, IREN still looks undervalued.
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