Iren Limited Stock Surges on AI Infrastructure Deal and Mining Synergies
Iren Limited (IREN) shares skyrocketed 26% this week, extending a monthly gain to 80%, as the AI infrastructure provider capitalized on sector momentum. The rally followed Microsoft's five-year cloud deal with Nebius, a peer using similar GPU leasing strategies for AI workloads.
Unlike pure-play AI firms, Iren funds its GPU expansion through existing cryptocurrency mining operations—a hybrid approach resonating with investors. The company projects fiscal 2025 revenue will double from $500 million as GPU deployments scale from 1,900 to 10,900 units.
Market enthusiasm reflects growing demand for turnkey AI infrastructure solutions. Iren's vertically integrated model, bridging crypto mining and cloud computing, positions it uniquely in the competitive data center landscape.
