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Markets · Investing · Business
Finance
Iren Won't Have to Raise Capital for Much Longer After the Horizon 1 Delivery
Iren is starting to make money from its Microsoft deal, and that will make it less reliant on issuing corporate bonds.
Iren(NASDAQ: IREN) shattered two bearish storylines upon announcing that its Horizon 1 data center project was operational and had been delivered to its tenant, Microsoft(NASDAQ: MSFT). It's one of four 50-megawatt sites that were part of a landmark deal the neocloud company struck last year.
One issue that has been driving bearish concerns about Iren has been its use of debt financing, but that headwind may start to fade thanks to this deal. Furthermore, Iren once again proves it can meet deadlines and turn its artificial intelligence (AI) capacity into meaningful revenue growth.
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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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