$IREN signing a $9.7b cloud contract with $MSFT is a thesis-defining moment for shareholders For the last couple of years, doubters have argued that $IREN is just another $BTC miner or, in recent months, that they can’t compete with the likes of $NBIS or $CRWV because they lack "software orchestration". Well, it turns out that all of these doubts were severely mis-guided. Investors who did extensive research and analysis of the AI sector understood that it was always just a question of time — not merely because $IREN "has the power", but because they have world-class engineers and a one-of-a-kind CTO in Denis Skrinnikoff. Combine that with excellent leadership at the top & this was a forgone conclusion. Now keep in mind, this multibillion $ deal — which, on the surface, appears to have a very strong ROIC profile — barely encompasses 300 MW (gross) of $IREN's ~3 GW power portfolio. There will be many more deals, whether in hyperscale cloud contracts or in the form of high-yielding “premium” colocation partnerships. This is truly just the beginning... Congrats @danroberts0101 & Team. Couldn’t be prouder as a shareholder today! 👏🎉