$IREN: Chart's telling a story: long, stubborn trendline finally cracked. Beautiful, isn't it?

So many bad takes on IREN floating around lately. Back in ‘24, when people were skeptical about the AI pivot — fair enough. It was new territory, and a lot of people just couldn’t see the bigger picture yet. But now? After everything that’s been achieved? The amount of noise out there is kind of wild. Strategic partnership with NVIDIA. Cloud services for NVIDIA. 5GW of next-generation AI infrastructure. Flagship deployment for NVIDIA’s DSX architecture in Sweetwater. And Jensen himself literally said: “IREN brings the scale and infrastructure expertise to help accelerate the buildout of next-generation AI infrastructure globally. Together, we are building for the age of AI.” At some point, the story becomes pretty straightforward.

$IREN Sweetwater 1 HD - 3/12/2026 Made possible by OnlyFrans, edited and upscaled by @HArctander Lots of developments on both tracts: 1. Confirmed 2nd primary substation on the left tract, making the total confirmed 3. 2. Data Center rows are visible on the right of PS1. 3. Visible bulk substation transformer on the most right pad, possibly a transformer on one of the pads at PS1. 4. Mass grading on the left tract, indicating further development of the site towards adjecent parcels on the north and west. 5. Utility substation expansion now connected to the main switch, suspected POI for IREN's energization in Q2. 6. Suspected further build-out of primary substations on the left tract, south of the first two, confirmed by drone footage posted by a subcontractor. My considerations: -> IREN is making a site that is a blank slate for mass production of data center shells. -> The area right of PS1 is showing indications of rows, underground conduits, and this area will soon be ready for data center construction. -> The fact that there is 1 bulk substation transformer visible on the most right transformer pad, makes me certain that energization is not far out. -> I expect 750MW of gross power at the 36.5kV level (DC ready), to be flowing by the end of the year (incremental over the course of the year). -> Based on the concentration of the substations on the left tract (possibly 3 or 4), we could see the entire 1,400MW become operational on these 2 tracts. -> This further strengthens the believe that this will be a VR200/VR300 site, with a much smaller data center footprint due to a massive jump in rack density. Now as to "wen deal": I think @IREN_Ltd is making a site that can still pivot in either direction of Build-to-suit, colocation, or AI Cloud/IaaS. By doing all the step-down work first, but preparing multiple data center areas down to the 34.5kV level — the ultimate use-case doesn't need to be set in stone yet. I think this site will have a slow ramp up, but when the use-case is determined, all the moving parts will be in place, and the construction will be "released" as a coil spring into mass data center development, on multiple areas across the site in parallel. Time to data center = Time to revenue There are no delays when you do all the pre-work for 1,400MW of data centers, making the eventual construction a simplified copy-paste task at an unprecedented scale and pace. Sweetwater is the flagship and will be the holy grail of AI infrastructure in 2027/2028. Patience is a virtue, take the time to learn and know what you own.

$IREN Sweetwater 1 HD 2/15/2026 ~Made possibly by OnlyFrans™️ 1. A grand total of 3 primary substations are identified with an expected 750MW of gross and 450MW of IT load to be available at 36.5kV. 2. Two of these have transformers available in Texas, but currently not visible on-site. This would mean 500MW of gross capacity could be energized in H1 2026 at 36.5kV. 3. IREN is grading land for mass construction of a new data center design on both sides of the FM611. The site will be ready for actual structural works by April. 4. All of this will depend on manpower. Will they be able to pull 2-3k bodies to this site? The last information I got says they are confident that Abilene will help them fill the open roles soon, and the contractors are eager to work at Sweetwater 1. 5. The utility substation is being expanded. The switch without this upgrade could transport as much as 3GW. with a 25% increase in footprint, could Lone Star be adding 1.5GW of hardware? @IREN_Ltd's flagship site is taking shape. We are taking notes. More to come. Edited and upscaled by @HArctander

$BTC This is getting very interesting...

$IREN Childress 1/9/2026 HD Sometimes, we share our OF content with the public. Please enjoy this satellite image from last Friday. We can clearly see the first concrete slab of Horizon 3 being poured. We can also see the earthworks of Horizon 4 being prepared. We think they are ahead of schedule. Delivery of Horizon 4 could be done months earlier if this pace keeps up. What does this mean for Sweetwater 1, without the high demands from $MSFT? Enjoy the picture, and let me know what you see 🔬 Made possibly by OnlyFrans™️ Edited and upscaled by @HArctander

Over 90 million…

The volume on $CIFR 👀

The demand… $cifr $iren

Hey, $IREN, can you chill for a sec so I can make a chart?! 🔥🔥

$CIFR is breaking out of a long-term downtrend dating back to Dec '24. Rumors of CoreWeave acquiring $CORZ are shining a spotlight on the sector’s true value — and $CIFR is reacting. Volume up, momentum rising. Sector re-rating in motion? 👀

$RENDER broke below its uptrend, likely triggered by Coinbase's announcement to delist $RNDR — the old Ethereum-based version of the token. Important: The Solana-based $RENDER remains unaffected from the delisting. Know what you own. If you sold $RENDER because you can’t tell the difference, maybe crypto isn’t for you.

$CIFR 👀