IREN Limited (IREN) Stock Reels After Capital Raise
IREN Limited is an AI cloud services and Bitcoin-mining company with volatile stock, profitable operations, and a recent capital raise causing significant short-term price swings.
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.