I asked for gains, quick and bright,
A rocket climb, a burst of light.
I found $IREN and liked the play,
I bought my shares and dreamed they'd pay.
From fifty down to twenty-three,
The market laughed and mocked at me.
Each dip arrived, I bought some more,
Then watched it fall beneath the floor.
Twenty-five thousand shares still intact,
I never sold. Imagine that.
I asked for gains, a glorious flight,
The market said: "Not yet. Good night."
But storms must end, and light remains,
I held through pain, now bring the gains.
$IREN
200+ neoclouds probably isn't sustainable. Consolidation makes sense.
But fewer competitors isn't necessarily bearish for the survivors. Quite the opposite.
The real question is who's positioned to come out stronger.
My bet is on $IREN.
Pretty much.
As of the past few weeks, debt markets have almost entirely shut off access to money for any company that doesn’t have substantial revenue independent of AI data centers.
SpaceX closed $40B of debt for GPUs, but we’re investment grade and have Starlink & launch revenue.
That means the 200+ neoclouds are going to see guppy-level death and consolidation. Some will make it through, but not many.
