Professional
Added to YB: 2024-07-12
Pitch date: 2024-07-11
IREN [bearish]
IREN Limited
-174.53%
current return
Author Info
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Company Info
IREN Limited operates as a vertically integrated AI cloud services platform in Australia and Canada. It develops, owns, and operate data centers, including the associated land, grid connections, and substations, as well as buildings and cooling.
Market Cap
$16.3B
Pitch Price
$11.07
Price Target
6.00 (-80%)
Dividend
N/A
EV/EBITDA
474.89
P/E
-18.57
EV/Sales
25.76
Sector
Software
Category
N/A
Iris Energy: Questionable HPC Claims and Financial Health
IREN: Short thesis. Claims HPC pivot, but lacks critical features. Founders dumping shares. Burned $716M, 12x dilution since 2020. Underspending on infrastructure ($1M/MW vs $10-20M/MW for true HPC). Childress facility deficient: no power redundancy, air cooling issues, poor location. Misrepresented valuation metrics. 50-55% downside vs peers.
Read full article (2 min)