Vertically integrated infrastructure
Company: IREN
The claim, verbatim
IREN owns land and power grid connections, builds and runs data centers, buys GPUs, and sells compute directly to customers
Source (primary)
IREN’s AI Pivot Wins JPMorgan’s Vote While MARA’s ‘Capital-Light’ Strategy Gets A Double Downgrade - Yahoo Finance (-, news_article)
View cached copy (2026-09-14)Live source ↗
Quote: “It owns the land and the connections to the power grid. It also builds and runs the data centers, buys the GPUs, and sells the compute directly to customers.”
How we checked this
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Additional evidence
confirms IREN’s AI Pivot Wins JPMorgan’s Vote While MARA’s ‘Capital-Light’ Strategy Gets A Double Downgrade - Yahoo Finance
Quote: “It owns the land and the connections to the power grid. It also builds and runs the data centers, buys the GPUs, and sells the compute directly to customers.”