IREN's Massive Microsoft Pact: Could This AI Powerhouse Triple to $200?
IREN secured a $9.7 billion multi-year contract with Microsoft to deploy Nvidia Blackwell GPUs at its Texas facility, pivoting from Bitcoin mining to AI services.
IREN (NASDAQ: IREN) reported a record Q3 revenue of $148.1 million, a 172% increase year-over-year, driven by efficient Bitcoin mining and a 98% margin AI cloud segment.