IREN is down 50%

I think the potential is really high, just look at the power they have secured

However, acquiring GPUs is so expensive, and it will hurt earnings because of the depreciation

All these capex requirements, funded partially through dilution, are killing the stock

I’d argue that they should adopt a more energy-centric approach by doing colocation deals

I don’t think the neocloud strategy makes sense for them

I don’t even understand why they’re trying to compete with $NBIS, even from a marketing standpoint, when there is clearly no real competition there as far as neoclouds go

Not necessarily all deals have to be colocation. They can keep experimenting with the neocloud approach with Childress, but a colocation deal for all the power at Sweetwater would bring this company back to ATHs