To The Moon

🌟🌟🌟Crypto is rising again -dramatic and determined to prove that crypto winter was just a long coffee break.  Bitcoin is flexing, sentiment is improving and suddenly everyone is asking the same question:

Is this the real turnaround?

Maybe.  But if you want proof that markets have a sense of humour, look no further than my own portfolio: IREN is soaring while MARA is doing a deep sea dive.

Same sector.  Same macro backdrop.  Completely different performance.

Let's unpack the plot twist.

Why IREN Is Up - The Quiet Achiever With Microsoft Tailwind 

IREN $IREN Ltd(IREN)$   isn't just mining Bitcoin anymore.  It is evolving.

It has diversified into high performance data centers, tapping into AI and cloud boom.

IREN has signed a massive contract worth USD 9.7 billion over 5 years with $Microsoft(MSFT)$  . Microsoft pays 20% upfront.  This contract gives Microsoft access to IREN's NVIDIA GB300 GPU cloud capacity.  There will be a phased roll out from 2026 at IREN's 750 MW Childress,Texas data center campus .

This is why the analysts are re rating IREN so aggressively.  A USD 9.7 billion, 5 year hyperscale AI cloud contract is the kind of deal that transforms a miner into a data centre powerhouse overnight.

Why is MARA down?

MARA $MARA Holdings(MARA)$  on the other hand, has taken a very different path.  Instead of diversifying, it has doubled down in Bitcoin - buying BTC aggressively, almost in the style of $Strategy(MSTR)$  .

That strategy works beautifully when Bitcoin is moonwalking.  But when BTC dips?  The balance sheet feels it badly.  Add in operational inconsistencies and lower utilisation, and the market has been quick to punish the underperformance.

MARA isn't broken.  It is just tied to Bitcoin's hip.  When Bitcoin sneezes, MARA catches the "flu".

So Is This The Crypto Turnaround?

Momentum is real.  Institutional flows are rising.  Miners are separated into 2 camps:

The diversified operators - IREN

The pure play Bitcoin believers - MARA 

Both models can win but not at the same time and not under the same conditions.

Right now, the market is rewarding efficiency, diversification and real revenue, not just balance sheet bravado.

My Takeaway? Expect the Unexpected Always .

I have invested in IREN and MARA and their results could not be more different.  It is the perfect reminder that in crypto:

The only thing predictable is the plot twist.

IREN is sprinting ahead with cloud contracts and operational discipline.

MARA is riding the Bitcoin rollercoaster with hands in the air and no seat belt.

And me?

I am learning again that conviction is essential but flexibility is survival.

As Warren Buffett likes to say:

"Rule No.1: Never lose money.  Rule No. 2: Never forget Rule No. 1".

Some days that feels like timeless wisdom.  Other days - especially when IREN and MARA go in opposite direction - it feels like the universe is having a good laugh.

But that is the game.  That is the journey.  And that is why we stay disciplined, stay curious and stay ready for the next twist in the story.

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