IREN It just did the exact same thing it did yesterday. Dumped on open, pumped, then dumped harder and grinded back up. Damn near same magnitudes on each move. We'll see if we get another blowoff right about now, a similar move to yesterday would be 14.10. Pays to be in the charts of your watchlist even if you're out of a position.
BTCUSDIREN What a ride! Nailed the entry on the open dump, missed the exit on the pump. Went from up 30k to down 60k in 20 minutes. Grinded back to +26k profit. Exhilarating! Out till Jan, happy holidays all.
IREN Unprofitable miners have been selling off operations at $100-120M/Eh. That gives Iren a liquidation value of 17/share (31Eh x 100M/180M share count) plus another dollar of cash on the balance sheet and a conservative 2/share in free cash flow for 2025. So liquidation value is 20/share, that's with no growth, no BTC price gains, no AI data center deals. 2-3x undervalued!
IREN Big pivot here for Iren. Will likely be first miner to 50EH/s and they already have the lowest mining costs. Building one of the largest data centers in the world at one of the earliest timeframes. Major cash flow turnaround and a number of catalysts on the horizon. They are the most undervalued miner, it should be trading 2x this level. BTC1!
IREN I found the earnings report disappointing in almost every way. And keep in mind, I'm long the stock. I expected much better. Maybe the rest of the world will see it differently or the shorts will figure it's already priced in and close their positions, but I'm not holding my breath for a run-up after what I saw.
IREN It just did the exact same thing it did yesterday. Dumped on open, pumped, then dumped harder and grinded back up. Damn near same magnitudes on each move. We'll see if we get another blowoff right about now, a similar move to yesterday would be 14.10. Pays to be in the charts of your watchlist even if you're out of a position.
BTC1!