LEMAY retweeted
A few people have Thursday's numbers tangled, so let me untangle them.
The majority of the $684m loss is the cost of retiring Bitcoin miners as we convert those sites to AI Cloud. Non-cash. The cloud business underneath ran ~87% gross margins (ex D&A).
Every megawatt that comes off mining goes back on at multiples of the revenue. Recent 3-year AI Cloud contracts are at >$20m per MW (IT), more than double late last year.
And the $25-30bn of forecasted FY27 capex isn't an equity number. Customer prepayments can cover about half the GPU capex. Lenders can fund most of the rest. We raised ~$19bn over the last twelve months and only ~$3bn of it was equity. We haven't borrowed a dollar against the data centers yet either.
$4bn of ARR is contracted, with three sites commissioning between now and year end to bring it online. And that's the 2026 story. The real ramp is 2027, when Sweetwater and the next wave of capacity come into play.
It's delivery time.
LEMAY retweeted
NVIDIA independently validated our B300 training performance across their benchmark suite, a status only a few achieve. Design, networking, software and operations tuned as one system. Owning the data centers, not renting them, helps keep cloud performance repeatable at scale.
IREN has achieved @nvidia Exemplar Cloud status on NVIDIA HGX B300 for training workloads.
This status confirms that IREN's infrastructure performs within NVIDIA's reference performance targets across its full suite of benchmarking recipes, validated against NVIDIA reference architecture.
"IREN's achievement of NVIDIA Exemplar Cloud status reflects deep engineering collaboration between our teams and the quality of infrastructure behind IREN's AI Cloud, giving enterprises confidence to run their most demanding training workloads at scale." — Warren Barkley, VP Product Management, NVIDIA
Read full blog: iren.com/resources/news/nvid…
LEMAY retweeted
SEDA is now gated behind x402 from @buildonbase
This means any AI agent can now access +11m symbols for equities, crypto, commodities, anything without any API key.
The Agent can simply pay $USDC and access any Oracle Program on @sedaprotocol in seconds.
Soon on SEDA infra.
LEMAY retweeted
To meet growing demand for our vertically integrated offering, $IREN is expanding to 150,000 GPUs with the addition of 50,000 @NVIDIA B300 GPUs.
Time-to-compute is increasingly important in today’s AI Cloud market and this expansion positions $IREN among the largest AI infrastructure providers globally.
More details: iren.gcs-web.com/static-file…
LEMAY retweeted
- 3 year pay back on GPUs
- the last 2 years of MSFT contract then pay off the data centers too
- year 6 onwards = free data centers (for colo or cloud) + any residual value in the GB300s
Or, you can sign a colo deal and wait 10++ years to get your capital back on the data centers.
I'll take option 1 thanks, and keep compounding shareholder returns into the AI thematic.
LEMAY retweeted
$IREN is pleased to announce the signing of a $9.7bn AI Cloud contract with @Microsoft
Key details of the transaction:
- $9.7bn AI Cloud contract value
- 5-year average term
- 20% prepayment
- 200MW (IT load) data centers
- NVIDIA GB300 GPU deployments
Refer to the press release and accompanying presentation below for further information
Press Release: iren.gcs-web.com/static-file…
Presentation: iren.gcs-web.com/static-file…
LEMAY retweeted
hmmm, interesting
@sedaprotocol is backed by Coinbase and has 9k stock price feeds available onchain
nah…. must be nothing… right?
LEMAY retweeted
113 is one of the most thoughtful in the space. If you haven't heard him speak yet this is a tremendous place to start. Come join us in the terraforms discord if this thinking appeals to you. 🩵
Art on Ethereum: a new series where we cover the latest news & give voices from the community a stage to share their ideas, stories, and visions
Yesterday’s guest: @0x113d, artist & co-creator of @mathcastles
With @lukeweaver_eth & @henrypye_
🧵1/24
nitter.cf/i/spaces/1OyKALBoVozxb
LEMAY retweeted
Native Stocks onchain are the next 0 to 1 in crypto.
At SEDA, we’ve been cooking something special for RWA issuers:
@superstatefunds | @OndoFinance | @CollaterizeHQ
A flexible oracle framework designed to make stocks fully native on-chain. This introduces:
• corporate action tracking ( stock splits + dividends )
• asset issuance in 90 seconds, on any network
• monitor asset transfer and pause transactions in-flight, to prevent transfers to OFAC blacklisted addresses with @chainalysis
• integrate natively with KYC’d accounts via @base or @inkonchain
• make stocks available natively on +1,000 networks
First Dynamic Stock Feeds will begin rolling out shortly after Mainnet in early Q3.
LEMAY retweeted
Ban all porn on X
X is the town square
No one wants pornography broadcast in the town square
Please share if you want to ban porn on X
LEMAY retweeted
The future of generative art NFTs is unfolding now. Our $400K pre-sale liquidity loan on @NFTfi—backed by a $1.2M @Rafikanadol piece—signals a major shift: NFTs are becoming institutional-grade assets. Here's why:
We are proud to lead the charge in institutional-grade NFT lending with a first-of-its-kind $400K pre-sale liquidity loan on @NFTfi.
Our collaboration with NFTfi and @Sothebysverse is transforming how Fine Arts can now access instant liquidity.
LEMAY retweeted
Speed matters, especially when trading crypto.
Bridge $USDC to @HyperliquidX in seconds!
Powered by @AcrossProtocol
LEMAY retweeted
@AcrossProtocol has given us plenty to be thankful for this year, yet I think there's plenty more presents to come. Here's my top 12 reasons why I think it'll be a very merry Across(mas)🎄🎅🧵
$ACX #BridgeAcrossWithACX @publish0x $ETH
LEMAY retweeted
today @AcrossProtocol is doing more volume than @LayerZero_Core
Across did $1.48b volume this month
Layerzero did $1.42b volume this month
$ZERO is valued at 13x $ACX
super bullish on the Across team. i’ve been accumulating $ACX since ~$0.05
so much upside to come. nfa
