"IREN Ltd. ( NASDAQ:IREN), which operates data centers and mines Bitcoin ( CRYPTO:BTC), went from under-the-radar to over-the-top in 2025. As we'll see, IREN stock's recent rally has been absolutely stunning. Now, it's a question of whether IREN Ltd. stock can continue on its upward trajectory and even reach $50 before the year is finished. The skeptics might claim that IREN stock is overextended, but if you're bullish about Bitcoin, you'll probably want to hold on for more gains."
"As of September 18, IREN Ltd. stock was up 277.7% year to date and up $380.44 over the past 12 months. Momentum or "momo" traders will certainly enjoy this price action, but value seekers might object. Indeed, IREN Ltd. has a trailing 12-month price-to-earnings (P/E) ratio of 95.1x, and this could raise valuation concerns. Has IREN stock gotten ahead of itself?"
IREN Ltd. operates data centers and mines Bitcoin while expanding AI cloud services. The stock climbed from about $10 to $37 by mid-September 2025 and was up 277.7% year to date, rising $380.44 over the prior 12 months. Quarterly revenue for the three months ended June 30, 2025 reached $187.293 million, a 29.3% increase from $144.823 million in the prior quarter. Most revenue came from Bitcoin mining, with emerging growth in AI cloud services. The company carries a trailing 12-month P/E of 95.1, creating valuation concerns despite strong top-line momentum.
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