$IREN(IREN.US)did not issue additional shares and directly used net income for buybacks, which is very conscientious.

The previously speculated debt cycle has also materialized. The company's cash flow will become tighter, but the debt structure has been optimized. It's more likely that there will be additional investments, giving more confidence for capital operations. Overall, it's a significant positive, and it would be even better without the short-term drag from BTC.