The analysis suggests the IREN / MSFT deal could result in a $700M net loss over five years due to high depreciation and interest expenses, with an estimated annual net income of negative $138.8 million. Furthermore, IREN may face approximately 12.5% shareholder dilution to fund the deal's capital expenditure. In light of these concerns, @FloodCapital strongly recommends investing in GLXY as a long-term opportunity in the sector.