Just when you thought the financial circus had no new acts, behold! IREN Ltd, that tiny company with dreams bigger than its servers, pranced around like a peacock on a sugar rush, jumping a whopping 11.4% in the stock market after revealing it had mined $86 million worth of Bitcoin in July-more than that other sleepy giant MARA. Yes, MARA, you’re still lurking in the shadows while IREN throws a party! 🎉💰
On a day that no one should miss, IREN announced it had mined 728 Bitcoin-yes, you heard it right-728!-while MARA sighed in envy with its mere 703 BTC. And how did this tiny titan manage it? With a measly does of 50 exahashes per second (EH/s), compared to MARA’s grand 58.9 EH/s. The secret? Well, apparently, IREN’s equipment was busier than a caffeinated squirrel, running at an average of 45.4 EH/s throughout July. Who knew you could outperform giants with less effort? Amazing! 🐿️⚡
Meanwhile, the mining world gets more dramatic by the day. Mining difficulty is soaring, energy bills are climbing, and profit margins are gasping for air. But IREN, that crafty little fox, seems to be making hay while the sun shines-and buying a few AI GUPs along the way. Because who needs just Bitcoin when you can fool around with NVIDIA’s shiny new GPUs? 🖥️🤖
Oh, and let’s not forget good ol’ MARA, whose performance took a little nosedive in July, but according to its previous smashing second quarter, revenues skyrocketed 64% to $238 million-talk about riding a rollercoaster! And with 50,000 Bitcoin tucked away like a dragon’s treasure, MARA’s still the heavyweight champ-well, second place behind that eccentric Saylor fellow.
Share prices and market crushes
IRN shares closed Wednesday at $18.32, a handsome 11.4% jump, making Wall Street look twice. Other miners? Mostly bumbling along with 1-5% gains, like a parade of ducks behind the leader. The market cap? A cool $4.11 billion-second only to MARA, edging out Riot and Core Scientific, looking every bit the underdog with a winning smile. 😊📈
IREN’s secret weapon: AIs and more GUPs
Not content to rest on its laurels (or its Bitcoin stacks), IREN announced that a modest $2.3 million of that $86 million haul came from its shiny new AI cloud venture. Why, you ask? Because everyone loves AI, and apparently IREN is no different. They’ve gone ahead and bought 2,400 NVIDIA Blackwell GPUs-enough to turn every cat in a 10-mile radius into a computational genius. The initial delivery of 256 units already at work, folks.
Bossman Roberts made it clear: running mining rigs alongside AI gear isn’t just a gimmick-it’s the new frontier. A testament to their “versatility,” or so they claim, even if the AI dream was once mocked as overhyped. Still, pioneers gotta pioneer, right? 🚀😎
The Great IREN Overvaluation Debacle (or, the comeback story)
Exactly one year ago, Culper Research waved its tiny flag of warning, shouting that IREN was “wildly overvalued,” a pretend-tech company talking big but investing Vaguely. Comparing them to arriving at Monaco in a Prius, they saw no racing spirit-just a lot of hype and a lot of gas money.
Fast forward, and guess what? Shares sank to $5.59 in April, but then-like a phoenix-shot up 227% to hit $18.32. We should all learn from this rollercoaster-especially those who short-sold with a grimace and now take profits with a grin. Cheers to unpredictable markets, brave bets, and a little bit of luck! 🎲🏦
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2025-08-07 04:05