$IREN WILL START ITS RERATING SOON.
Today was the next checkbox for $IREN to hit execution wise. Horizon one being handed over then approved by $MSFT is huge for other deals in the future and shows the market that they are a data center company.
First off this allows other hyper scalers and llm’s to trust their products. This leads to more favorable m per mw meaning higher margins. On top of that more importantly this should allow to them get a higher prepayment in contracts up from. For a company who is a 14 b market cap right now billions of prepayments could completely slow down dilution which is a big factor the bears argue.
This also should help re rate them from lower margin bitcoin mining to a Neo cloud command higher valuation ratios. Dan said they have learned a lot from Horizon 1 and the construction will be faster.
Just remeber at 1.2 gw ending 2027 energized capacity x 12 m per mw =14.4 billion ARR x a conservative 6 ttm p/s ratio that is an 86 b market cap pre dilution. We are at a 14 b market cap right now.
$IREN
Today was the next checkbox for $IREN to hit execution wise. Horizon one being handed over then approved by $MSFT is huge for other deals in the future and shows the market that they are a data center company.
First off this allows other hyper scalers and llm’s to trust their products. This leads to more favorable m per mw meaning higher margins. On top of that more importantly this should allow to them get a higher prepayment in contracts up from. For a company who is a 14 b market cap right now billions of prepayments could completely slow down dilution which is a big factor the bears argue.
This also should help re rate them from lower margin bitcoin mining to a Neo cloud command higher valuation ratios. Dan said they have learned a lot from Horizon 1 and the construction will be faster.
Just remeber at 1.2 gw ending 2027 energized capacity x 12 m per mw =14.4 billion ARR x a conservative 6 ttm p/s ratio that is an 86 b market cap pre dilution. We are at a 14 b market cap right now.
$IREN