IREN Stacks Power, GPUs, and Cloud Ops Before the Queue Fills

Nvidia's $2.1B equity stake in IREN validates what the smartest Texas developers already figured out: stacking power, GPUs, and cloud operations before the interconnection queue fills is the only way to energize this decade. The operators still treating power, water, and political capital as separate workstreams are about to find out how expensive sequential thinking gets.