$IREN at ~$3B of market cap per GW of capacity
$IREN at $35 is roughly a $15B company with 5GW+ of planned capacity. That's about $3B of market cap per GW.
Bulls quote $10B to $14B of 2027 exit ARR. At $15B that's only 1.1x to 1.5x.
Either that ARR number is way off or the market just doesn't believe it.
Sources: X story: IREN enters bear market; $15B market cap criticized given 5GW+ capacity · @Gobbb111: For 2027, with $10B-$14B exit ARR, that'd be around $200 per share. And its $35 currently? · @benoitz: $IREN back at $35. We've been given so many chances to buy the dip
Not financial advice. For informational and educational purposes only.
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