Tweeted by RosannaIn
Tweeted by RosannaInvests@1360769400182341641
$IREN just fell nine straight sessions. Look at what got sold versus what got built. 🧐
What the market spent nine days pricing:
→ a $50M/year NBA jersey patch
→ a $788M co-CEO stock package
→ a $6B ATM overhang
What it ignored while doing it:
→ Sweetwater 1: 1.4 GW energized and live on ERCOT since May
→ a $3.4B direct, equity-linked compute deal with NVIDIA, ramping toward ~140,000 GPUs this year
→ a reported ~$9.7B Microsoft contract underneath it all
And the context nobody's connecting: the frontier labs went vertical. Anthropic committed ~$50B to its own data-center footprint and just absorbed an entire SpaceX site. OpenAI restructured Stargate. The buyers of gigawatt-scale power now include the labs themselves → and the list of sellers with ENERGIZED gigawatt sites fits on one hand. That's why the deal rumors keep writing themselves. I don't trade rumors. I own the scarcity that generates them.
Nine days of selling priced the optics. Zero days priced the megawatts.
Counter, because it's real: the pay package and the ATM are legitimate shareholder gripes → dilution is a cost, not a headline, and the ramp to 140K GPUs is execution risk with a calendar. That's what the red days bought you.
De-rate on governance. The asset didn't move.
Long $IREN