Execution And Financing RisksIREN faces high execution and financing risks, needing to raise over $8B for its growth targets.
Overvaluation ConcernsThe valuation of IREN has detached from fundamentals, as shares are significantly overvalued after surging over 920% in the past six months.
Uncertain Future RevenuesIREN has not disclosed the counterparties in its AI Cloud contracts, which brings an element of uncertainty to the reliability of future revenues and earnings from the business.