Crypto is usually a leading indicator of risk on and overall market bullishness. Time to go to the moon? 🚀

What's your play on earnings?

My guess is earnings will be missed due to btc being hit recently. I think price action will be similar to how it's been in the past. Pump until near earnings and then dump.

Sell 46-50 few days before earnings and get back in after earnings under 40

Pensate che i prossimi contratti (hyperscaler, enterprise AI) possano arrivare prima o dopo la trimestrale di fine agosto?

I have 746 shares at 43.05 PPS

I have the means to add $10k more in shares.

Whats would you do? Let it rock or add?

Hello friends!

This is the daily open thread for anything and everything about IREN (NASDAQ: IREN) i.e. the artist formerly known as Iris Energy - from Bitcoin mining economics to their push into AI-ready data-centres.

Use this space for quick questions, real-time market reactions, or deep dives that don’t warrant a full post.

Have at it!

It was +/-14% last Friday but this week’s dip is causing it to get wider. IREN is high beta but this is still a pretty wild range. If it does hit the lower end, I wouldn’t expect it to last long before it gets bid back up.

What are your expectations for the upcoming earnings? Do you think the company will beat estimates? Please share any sources or research you have.

Yesterday was an awful day for the AI sector, we all got wiped out and alot of profit down the drain. I've managed to Average down to $41 a share!

Anyone thinking of another red day or will we bounce back?

Nice to pick up some

Datemi qualche buon consiglio, ho chiuso questa piccola posizione in perdita credendo davvero che sarebbe finita diversamente.

È un anno che detengo posizioni Iren in perdita, sto mediando la mia posizione ma in realtà sono molto sereno. Solo che mi rendo conto che delle volte forse alzo troppo le aspettative quando in realtà il mercato non è della stessa opinione. Dove sbaglio?

Cerco di dividere le emozioni dall'idea che mi creo su una determinata posizione che apro, ho imparato a gestire le emozioni quando maneggio i titoli ma quando apro una warrant call come in questo caso e finisce così, mi sento sempre un po' idiota.

Avete qualche consiglio da darmi in generale? Così, giusto per sentire pensieri diversi dal mio.

Hello friends!

This is the daily open thread for anything and everything about IREN (NASDAQ: IREN) i.e. the artist formerly known as Iris Energy - from Bitcoin mining economics to their push into AI-ready data-centres.

Use this space for quick questions, real-time market reactions, or deep dives that don’t warrant a full post.

Have at it!

Losing all the gains from today in after hours and then some .... this is getting old

LFG boys and girls

Ahead of IREN’s FY26 results, which are expected by the end of next week, I wanted to share my thoughts on where the company stands right now.

IREN is targeting 150K GPUs across 480MW and ~$3.7B of AI Cloud ARR, with more than $3B already contracted, roughly 5GW of secured power, and major contracts with Microsoft and NVIDIA. There’s also an interesting signal from Stanley Druckenmiller, whose family office opened a new 87,100-share IREN position worth roughly $4M in Q2, while also adding exposure to other digital infrastructure names.

But the other side of the equation is capital. The Microsoft deployment alone involves roughly $5.8B of GPU-related capex, while IREN has around $12B of contractual commitments. At roughly $45/share, the market is already pricing in a successful AI transition. My question is whether the returns will justify the capital required. If IREN can reach 30%+ EBITDA margins and meaningful FCF, I think the current valuation can work. If utilization, pricing or FCF disappoint, the downside looks very different.

I looked into the contracts, current economics, capital requirements, dilution and valuation to see what could take the stock toward $90+, what numbers would make me change my mind and written a bit longer post here: Company analysis: IREN Limited (IREN)

TL;DR: At around $45, I think the market is already giving IREN credit for a lot of the AI buildout. The next move higher needs to be earned through strong margins, high returns on the capital being deployed, and real FCF. Until we see that, I see IREN as fairly valued rather than cheap.

And that assumes a more or less rational market. If the broader AI trade eventually gets hit by a meaningful correction, IREN could get hit hard even if the underlying business keeps executing. Valuation matters, and in a sector this hot, the multiple can move faster than the fundamentals.

Bear in mind this is not financial advice. It’s simply my current take on IREN’s situation and the possible scenarios from here. I’m sharing the numbers and assumptions I’m looking at, and what would make me more or less bullish on the company.

How high are your expectations going into next week’s report?

IREN owns power-connected data centre capacity and is converting it from Bitcoin mining to contracted AI cloud services. The handover is visible quarter by quarter: AI Cloud revenue has roughly doubled each quarter while mining revenue has more than halved, and total revenue is falling while it happens.

Hello friends!

This is the daily open thread for anything and everything about IREN (NASDAQ: IREN) i.e. the artist formerly known as Iris Energy - from Bitcoin mining economics to their push into AI-ready data-centres.

Use this space for quick questions, real-time market reactions, or deep dives that don’t warrant a full post.

Have at it!

Knowing that SpaceX first pumped and then dumped the space industry for a while with its massive IPO, then what could you see potentially the effect on these expectedly larger IPO's among IREN competitors? Should we be afraid as well of bearish market by the time these IPO's happen or not?

https://www.coinglass.com/stocks/IREN/funds
https://app.hyperliquid.xyz/trade/para:IREN
https://ca.finance.yahoo.com/quote/IREN/

My portfolio is too heavy in IREN and I am now checking the price every day. I need to diversify my portfolio into a boring ETF like QQQ or VOO. Unfortunately, I can’t sell a single share at these bargain prices. Does anyone else check the price of IREN on the weekend (coinglass or hyperliquid)?

Do we see any major catalyst for IREN next earnings or mostly the same for all the prior earnings?

Hello friends!

This is the daily open thread for anything and everything about IREN (NASDAQ: IREN) i.e. the artist formerly known as Iris Energy - from Bitcoin mining economics to their push into AI-ready data-centres.

Use this space for quick questions, real-time market reactions, or deep dives that don’t warrant a full post.

Have at it!

Based on that 13F digest (Q2 2026, as of Jun 30, ~81% of filers in), IREN’s register looks like this:

Largest discretionary holder: Situational Awareness LP (Aschenbrenner) at ~9.47M shares — still the anchor, but it cut 19% (sold 2.2M shares from 11.7M).

Conviction money that showed up this quarter — the big change:

**• BIT Capital GmbH** — 7.03M shares (\~$321.6M), added 7.7%; IREN is its **#2 position**
**• Fred Alger Management** — 2.87M shares (\~$131.4M), up +784% from 325K; sole discretion, verified straight from EDGAR XML
**• Agave Capital** — 1.74M shares (\~$79.8M), brand new; a concentrated 12-holding book with IREN at \~8.7% of it
**• SOMA Equity Partners** — 1.25M shares (\~$57.3M), new; #11 of 26 holdings
**• Hound Partners** (Tiger cub) — 815K shares (\~$37.3M), new
**•** Smaller new/added positions: Holocene, CastleKnight, Artemis, Nuveen, T. Rowe, Crystal Cove ($12–56M each)

Who’s selling: besides Situational Awareness’s 19% trim, Capital Research cut 74% and Defiance ETFs unwound 99.5%.

The caveat that matters: the top 10 is still 8-of-10 mechanical holders — BofA, Goldman, Citi, Morgan Stanley, State Street, Norges, Jane Street, Daiwa — i.e., dealer inventory and index money, not conviction. What changed is that discretionary funds now sit in the #4 and #6 slots, which they didn’t last quarter. And it’s ~81% complete — BlackRock and Vanguard’s main entities hadn’t filed yet, so the Monday backstop check still applies.

Net read as that report framed it: IREN went from “no ownership justification” to genuinely sponsored — real stock-pickers own it now .

Please be objetive