Cash from Microsoft's prepayment will help finance part of its $5.8 billion Dell deal, IREN said. Its Microsoft contract could be terminated if it fails to meet the delivery timelines.
In Earning transcript：
But it's also really important to mention that we've optimized elsewhere. So the 76,000 GPUs that we've procured for this contract at a $5.8 billion price, Dell have really looked after us to the point where they've got an in-built financing mechanism in that contract, where we don't have to pay for any GPUs until 30 days after they're shipped. So there's further enhancements there.
