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That IREN Microsoft deal is interesting timing with all the hyperscale competition for GPU capacity. They're essentialy turning their Bitcoin mining infrastructure into AI compute while keeping both revenue streams. Smart pivot from pure mining exposure. The Texas datacenter buildout should give them real economies of scale.
CoreWeave did something similar back in 2019, after the cryptocrash. They've had a $1.5 billion IPO in March and are now worth over $51 billion. Computing power is always useful, be it for mining crypto or generating tokens.
Excellent analysis! Focusing on growth, not IPO, is a smar play for infrastructure.
That IREN Microsoft deal is interesting timing with all the hyperscale competition for GPU capacity. They're essentialy turning their Bitcoin mining infrastructure into AI compute while keeping both revenue streams. Smart pivot from pure mining exposure. The Texas datacenter buildout should give them real economies of scale.
CoreWeave did something similar back in 2019, after the cryptocrash. They've had a $1.5 billion IPO in March and are now worth over $51 billion. Computing power is always useful, be it for mining crypto or generating tokens.