I’d say $IREN could realistically add $20b to its market cap with Sweetwater

If they secure a 2 GW deal with a hyperscaler, the stock is never returning to double digits again

However, I believe they’d be better off focusing on colocation, not cloud

The long-term usefulness of GPUs at this stage is uncertain

We can’t expect the past to repeat itself

AI accelerator development is accelerating, and we have new generations every year

I’d say $IREN would benefit from sticking to their bread and butter, which in my view would provide shareholder returns with much less risk