IREN

Several publicly listed Bitcoin miners are converting their facilities to AI computing and high-performance computing because AI projects deliver much higher margins (about $1.5m per MW/year vs. $0.5m for traditional mining). IREN reported higher AI cloud revenues than mining for the first time in Q2, TeraWulf earns 71% of revenue from HPC leasing, and Riot Platforms signed a 20-year lease for 191 MW with an AI company. For investors, the risk profile shifts from a Bitcoin bet to data-center contracts with AI firms; additionally, roughly 35 EH/s of mining capacity could leave the market, changing the competitive dynamics in mining. » Więcej na finanzen.net

IREN reported higher revenue from AI cloud in Q2 for the first time (USD 70.5m) than from Bitcoin mining (USD 66.7m) and recorded write-downs on decommissioned mining hardware. Several publicly traded miners such as TeraWulf, Keel and Cipher are converting infrastructure into AI and HPC facilities because AI computing offers substantially higher margins. Investors value AI contracts far more than pure mining, shifting the business risk profile of miner stocks toward data center contracts and likely removing at least 35 EH/s of mining capacity from the market. » Więcej na finanzen.net

Nebius notified customers that higher on‑demand GPU rental rates take effect October 1, signaling demand for AI compute is outpacing supply and lifting Nebius stock about 10%. Market read‑through pushed IREN up roughly 6% on the value of re-rentable GPU hours, while CoreWeave fell amid concerns over committed capacity and debt. The divergence versus broader data‑center ETFs suggests a neocloud‑specific repricing and traders will watch for similar rate moves from other operators to confirm the trend. » Więcej na finance.yahoo.com

JPMorgan upgrades Iren Ltd. twice to "Overweight" and sets a $65 price target. The company is shifting from a Bitcoin miner to a provider of high-performance data centers (Neocloud) through a $3.4 billion partnership with Nvidia. Power supply bottlenecks strengthen Iren's market position, as it already has secured infrastructure. » Więcej na finanzen.net

Blue Owl is leading a $2.4 billion financing so IREN can buy Nvidia systems; the funds are structured as $1.2 billion each in a senior secured term loan and secured bonds, both collateralized by the equipment itself. The interest rate for this tranche is fixed at nine percent, covering roughly 90 percent of the device costs for the air‑cooled Blackwell systems in Mackenzie. For projects with Microsoft, IREN used cheaper financing backed by Microsoft lease contracts and prepayments ($3.6 billion at an average of six percent). Risks remain: rapid technological obsolescence of the collateral, a high share of external financing in the conversion from Bitcoin miner to AI data‑center operator, and large planned investments for 2027. » Więcej na deraktionaer.de