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Markets · Investing · Business
Finance
Here's Why I Sold Cipher Digital and Bought More Iren
I got out of Cipher Digital and doubled down on Iren. Here's why.
After covering neocloud stocks for more than a year, I decided to sell Cipher Digital(NASDAQ: CIFR) shares to buy more Iren(NASDAQ: IREN). Both data-center companies are well-positioned as hyperscalers demand more compute for their AI ambitions, but Iren has become far more compelling in recent months, especially with a bearish undertone still gripping the narrative.
Image source: Getty Images.
Iren's first landmark deal was a five-year, $9.7 billion pact with Microsoft for 200 megawatts. Investors waited for several months for Iren to make another splashy deal of that magnitude, but it has mostly pulled together a few smaller deals instead, including one with Nvidia.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.
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