IREN pathetic performance compared to $BTC. IREN is no longer a leveraged Bitcoin play on the way up it’s only leveraged on the way down. Completely broken stock.
IREN what a disaster. Should not have told the market they would pause Bitcoin mining growth until after they reached 50EH and should definitely not have added a Billion $ ATM to that bad decision.
IREN stock is totally broken, all thanks to the crazy vision of the CEO and his 1Billion ATM he wants to waste on HPC AI equipment that turns into trash after 2 years because there is newer better technology that makes it obsolete.
IREN gets about $20M a year revenue on HPC AI and yet they are doing a ATM for 11B so they can waste that on more HPC AI hardware and infrastructure, that’s a total waste of time and money IMO. It will take them decades to get the Billion $ ATM money back. They should just use the ATM money to buy Bitcoin and when it goes up 25% sell it and there you go $250M profit in not long.
IREN no sign of recovery. Thanks Dan you’re doing a terrific job tanking the stock and losing all your long term shareholders. Canceling Bitcoin mining growth once you reach 50EH was a stupid idea. Then top off that pile of manure with a Billion $ ATM and then the death blow is wasting all that Billion on HPC AI that makes basically zero revenue and you can’t resell the equipment and infrastructure you build to anyone. Now you get a $2 stock. Congratulations.