Here's Why Bitcoin Miner IREN's Stock Is Soaring This Week

"The headline drivers are straightforward: IREN says it has doubled its AI Cloud capacity to roughly 23,000 GPUs after a ~$674 million purchase of 12,400 units - a mix of NVIDIA B300s and B200s plus AMD MI350Xs - and is guiding the segment toward more than $500 million in annualized run-rate revenue by Q1 2026. Those numbers convert a theoretical "AI pivot" into a tangible capacity and revenue target investors can value."

"Wall Street reacted fast. Bernstein more than tripled its target to $75 and framed the move as a "breakout" driven by exponential AI cloud scaling, implying roughly 80% upside from the prior close, according to CoinDesk. Around the same time Arete Research initiated coverage with a Buy and a $78 target, echoing the view that the company's combined data-center and mining footprint gives it a unique claim in the market."

"The analyst calls - from two shops with materially different frameworks - pushed the stock into the top gainers on crypto-infrastructure screens. IREN management has been explicit about building out liquid-cooled, high-density AI halls (including a planned 75MW direct-to-chip AI site in Texas) and pairing that physical capacity with the company's existing low-cost power portfolio. Owning power, land and data centers lets IREN capture a larger slice of per-megawatt economics than miners that merely lease capacity to hyperscalers."

IREN Limited doubled AI Cloud capacity to roughly 23,000 GPUs after a ~$674 million purchase of 12,400 units including NVIDIA B300s, B200s and AMD MI350Xs, and targets more than $500 million in annualized run-rate revenue by Q1 2026. The stock surged 110% in a month and over 530% in six months, climbing after analyst upgrades; Bernstein raised its target to $75 and Arete initiated coverage with a $78 Buy. Management plans liquid-cooled, high-density AI halls, including a planned 75MW direct-to-chip AI site in Texas, and pairs data-center buildout with existing low-cost power, land and infrastructure to capture higher per-megawatt economics.

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