BarStreet

I sold my $iren this morning premarket and have reallocated to $nuai $wulf $cifr Right now I’m focused on my 4th of July holiday business and will follow up with a space or post to give more detail to those at are concerned with the reasons

The sooner you realize $iren is a ♟️ in $nvda cold war with $amzn $googl the more things make sense I’m not betting against Jensen

The sooner you realize $iren is a ♟️ in $nvda cold war with $amzn $googl the more things make sense I’m not betting against Jensen

$IREN's new Warriors Sponsorship Investors are currently losing their minds over $IREN's new multi-year jersey patch deal with the Golden State Warriors, one of the most prominent teams in the NBA. Most seem to view this as wasteful spending, since the NBA caters to consumers. That may be great for B2C advertising, but the argument goes that it isn't as relevant for a B2B company like $IREN. Call it cope, but I completely disagree with that take. For one, B2B-focused advertising in sports is nothing new. CrowdStrike, AWS, Oracle, Salesforce, and Dell are all prominent F1 sponsors. Oracle also owns the naming rights to the San Francisco Giants' stadium (MLB), now called Oracle Park. Contrary to what investors seem to think right now, I believe $IREN's ad spend is highly targeted rather than random. They consistently sponsor global AI tech events, which is a direct way to get their branding in front of the exact customer base they want to reach, and they're increasingly layering in more alternative advertising channels in key markets on top of that. San Francisco is the undisputed AI and tech capital of the world. The vast majority of tech executives live and work here, which makes it an ideal market for an emerging cloud provider to advertise in. That's exactly what $IREN has been doing lately. Sponsoring one of the most prominent teams in the NBA, based right in San Francisco, is a genuinely clever way to get IREN's brand in front of the tech execs and Silicon Valley founders who attend home games and sit courtside. Every time Steph Curry hits a 3-pointer, people will see the $IREN logo, whether on television, courtside, or in local coverage. In a crowded market like SF, where the highways are plastered with tech ads from every company under the sun, this is a smart way to compete for the headspace of the key decision-makers living there. When you put it into perspective, $IREN is likely paying somewhere around $40-$60m per year for this sponsorship, which is fairly modest against the >$4b in revenue and multi-billion operating cash flow they'll generate next year. In any case, I think the bigger reason people are frustrated is that the stock isn't doing so hot right now, and $IREN hasn't signed a multi-hundred-megawatt deal since last November. The optics couldn't be worse against that backdrop, since it gives investors the impression that management is focused on all the wrong things. But I don't think this kind of thing diverts any real attention away from top management. You can execute on multiple fronts simultaneously. I also think investors should judge news like this on its own merit rather than letting price action sway their judgment. If $IREN had recently signed a big deal and was trading north of $100, I bet people would be calling this exact sponsorship a genius marketing play targeting the Bay Area. As for the lack of new deals, I have some thoughts that I'll get into in an upcoming post here on X. Don't get me wrong, $IREN is testing my patience, but I remain very optimistic that they'll deliver in Q3. You'll hear from me soon. Cheers!