IREN Shares Rise After AI Cloud Services Deal
IREN Ltd., known for bitcoin mining, saw its shares rise 3.93% in early Wednesday trading. The increase followed a long-term agreement with leading AI firms. The deal involves using NVIDIA Blackwell GPUs for AI cloud services. This marks IREN’s expansion into artificial intelligence infrastructure.
IREN’s shares opened at $59.07 in pre-market trading, up from Wednesday’s close of $57.75. The stock gained momentum throughout the day. Over the past five days, the share price ranged between $46.60 and $61.01.
Source: Google Finance
Shift from Bitcoin Mining to AI Computing
This year, IREN has shifted focus from energy-intensive bitcoin mining to AI computing technology. The company’s market capitalization is $16.78 billion. Its 52-week price range is $5.13 to $58.28, reflecting changes in crypto and tech markets.
IREN Aims for $500 Million Revenue from GPU Deals
- IREN expects over $500 million in annual revenue by Q1 2026 from 23,000 GPUs.
- It has secured deals for 11,000 GPUs, generating about $225 million annually.
- These contracts should be fully active by the end of 2025.
- In 2025, IREN spent $674 million on 12,400 new GPUs.
- IREN became NVIDIA’s top partner in August 2025.
