Step 1: the customer signs a multi-year take-or-pay contract and prepays.
On recent IREN 3-year deals, customer prepaym | Hanami
Step 1: the customer signs a multi-year take-or-pay contract and prepays.
On recent IREN 3-year deals, customer prepayments covered 45-55% of GPU CapEx before a single GPU hour was billed.
Reply to @AethirCloud: The AI market is nervous about overbuilding and about who carries the financing risk.
So how do GPUs actually get paid for?🧵