Deep_Miners

$IREN, interesting development from Mirantis today. A major cloud infrastructure provider facing a 600% VMware price increase is now migrating across THREE data center sites with Mirantis.🦾🦾🦾 businesswire.com/news/home/2…

$IREN, A perceived regulatory risk for data centers may actually turn into a competitive advantage for IREN. Across the US, and increasingly in Texas, policymakers want large data centers to “pay their own way”. The basic idea is simple…If your 500MW, 1GW or 2GW project forces the grid to invest billions, ordinary electricity customers should not be left carrying the risk if your project never gets built. At first glance, this sounds negative for IREN…Higher grid costs —>More collateral —>More capital required. But look at how IREN has actually built its business…IREN already funds a surprisingly large part of the infrastructure that many people assume “the grid” provides. It secures the land, it procures major transformers, it builds bulk and primary substations, it builds the electrical backbone inside its campuses, it funds its data centers cooling and backup infrastructure. And it puts real capital at risk long before the full AI campus is monetized. Sweetwater is perhaps the clearest example. This is not simply 2GW written on an ERCOT application. IREN has already built and energized major high-voltage infrastructure at Sweetwater 1, while the full 2GW hub has advanced through ERCOT’s new large-load process. That distinction may become much more valuable. Because the direction of regulation is effectively saying…“If you claim 1GW, prove that you can finance 1GW.” That is a very different world from one where developers can accumulate huge power positions while a meaningful part of the infrastructure risk sits elsewhere in the system. Yes, IREN will probably pay more too. A rough modelling suggests that a fully developed 2GW Sweetwater campus could eventually carry tens of millions of dollars per year in additional grid-related costs, plus higher collateral and some additional interconnection capex. But that may be the wrong number to focus on. The much bigger question is what happens to the value of already-secured and increasingly de-risked power when obtaining new power becomes harder, more expensive and more capital intensive. IREN has spent years doing exactly what the new rules increasingly demand from everyone else. So the paradox may be…IREN’s costs go up. But the barrier to competing with IREN goes up even more. And if that happens, “data centers must pay their own way” is not primarily a threat to IREN’s power portfolio. It may be one of the things that makes that portfolio harder to replicate.

$IREN, what is going on in India?🧐 The India/Mirantis signal is getting stronger. Four days ago we saw a Hyderabad role supporting real customer-facing AI infrastructure. Since then, the picture has widened. Mirantis is building an India-based team across software, operations and data for its GPU cloud platform. One role explicitly covers tracking GPU usage for billing, analytics and monitoring. This looks less like ordinary offshore development and more like part of the operating layer behind commercial AI cloud services. India may be becoming a meaningful software and operations hub for the broader IREN platform?

$IREN, a nice example of AI infrastructure investment benefiting the local community. In 2024, IREN contributed C$550k to help expand high-speed fibre across Mackenzie, BC – while also gaining dual fibre redundancy for its own AI data center. Now the project is complete. The District says the entire community is serviced by the new fibre network. A genuine win-win for IREN and Mackenzie. districtofmackenzie.ca/distr… districtofmackenzie.ca/cityw…

$IREN, I think this is worth watching. Mirantis says it’s already using NVIDIA’s new OpenShell technology to build k0rdent AI…just ONE day after IREN showed up in NVIDIA’s new agent-safety ecosystem. We’re starting to see the pieces connect…NVIDIA → IREN infrastructure → Mirantis software 😉 “Boris Renski will share how Mirantis uses OpenShell to run agents embedded in the software development lifecycle, helping engineering teams build k0rdent AI faster.” luma.com/q6v3ywku

$IREN, India is starting to show up in the Mirantis story. A new Hyderabad role points to real customer AI production environments and even references “larger regions” already being operated. India has been largely absent from the IREN/Mirantis narrative so far. That may be changing😁 jobs.smartrecruiters.com/mir…