NVIDIA has entered an agreement to receive a five-year warrant to purchase up to 30 million shares of IREN at $70 per share, representing a potential $2.1 billion investment. Under the partnership, IREN will deploy NVIDIA GPUs across its renewable-powered campuses to accelerate its transition into an AI cloud provider. The sentiment is highly bullish, with the author claiming $70 is the new price floor for IREN.