Part 19The contracts pay the debt
IREN's results of August 27 put recent customer prepayments at 45% to 55% of GPU capital spending.
The Interest Bill Comes FirstCompany · IREN
IREN
IREN is named in 1 Part of The Buildout, most recently Part 19: The Interest Bill Comes First.
Where the argument touches it
On each side.
Paraphrased and attributed, with the date and a link where one exists. DeepStack keeps no score of who was right; the dated tests do that work in the open.
Part 19 · Voices that cross sidesAug 29, 2026
IREN has sold out its 2026 capacity and pre-sold around one-quarter of the capacity it plans to bring online in H1 2027, with demand, power, and land no longer being constraints.
Part 19 · Voices that cross sidesAug 29, 2026
IREN has pursued vertical integration from day one and has the most impressive power portfolio of the three companies at a fraction of the market cap, whereas Nebius and CoreWeave have encountered problems with leasing.
Part 16 · Two labs carry the chainAug 28, 2026
IREN is the cheapest neocloud in the market at 2.9 million dollars per MW across 5,800 secured MW, which is about one-quarter of Nebius' valuation per MW and one-seventh of CoreWeave's, despite IREN holding the largest secured power position of any…
In The Buildout
Where IREN appears.
One line per story, from the story itself.
Part 19The contracts pay the debt
Daniel Romero of HyperTech Invest wrote on August 29 that IREN had sold out its 2026 capacity and pre-sold about a quarter of what it plans to bring online in the first half of 2027.
The Interest Bill Comes FirstPart 19The customer is Oracle's bridge
IREN's results of August 27 add that prepayment terms vary and that there is no assurance future contracts will include them.
The Interest Bill Comes First
On the Docket
The tests that name IREN.
Each is on the Docket and resolves on the Results page.
Whether CoreWeave, Nebius, IREN, Core Scientific, Applied Digital, TeraWulf or Cipher Digital tells the SEC of a bankruptcy or an acceleration of its debt by that day.
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Follow IREN: one email when a test on IREN resolves or a new Part names it.
Across the DeepStack reading
How often it comes up.
8 sources, 90 claims and 24 texts mention IREN, as of Oct 13, 2026. A count of attention, not a judgment.
Analysis and opinion, not investment advice. Figures are as of the dates cited in each story.