$IREN Ltd(IREN)$ More than half of IREN's market cap is free cash. Their prepayment structure basically works like 0% interest loans to fund capex, and they own over 5 GW of grid to build and connect to in a premium energy market state. They still need to deliver on checkpoints, for sure. Their CEO stimulus packages are tied to shareholder value and have a 2-year runoff, meaning they need to maintain that shareholder value until 2033 to collect. But some people will keep going on about how it's trading on liquid this weekend.
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