IREN Limited (IREN)

NEW YORK, Oct. 09, 2025 (GLOBE NEWSWIRE) -- IREN Limited (NASDAQ: IREN) (“IREN”) today announced the pricing of its offering of $875 million aggregate principal amount of 0.00% convertible senior notes due 2031 (the “notes”) in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”).

IREN Limited (IREN) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.

NEW YORK, Oct. 07, 2025 (GLOBE NEWSWIRE) -- IREN Limited (NASDAQ: IREN) (“IREN”) today announced its intention to offer, subject to market and other conditions, $875 million aggregate principal amount of convertible senior notes due 2031 (the “notes”) in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). IREN also expects to grant the initial purchasers of the notes an option to purchase, for settlement within a period of 13 days from, and including, the date the notes are first issued, up to an additional $125 million principal amount of notes.

NEW YORK, Oct. 07, 2025 (GLOBE NEWSWIRE) -- IREN Limited (NASDAQ: IREN) (“IREN”) today announced it has signed additional multi-year cloud services contracts with leading AI companies for NVIDIA Blackwell GPU deployments. IREN recently expanded its AI Cloud capacity and remains on track to achieve >$500m in annualized run-rate revenue (ARR) from the 23k GPUs currently operating and on order by the end of Q1 2026.1 To date, customer contracts have been secured for 11k of the 23k GPUs, representing approximately $225m in AI Cloud ARR, expected to be in operation by the end of 2025.2 New NVIDIA Blackwell GPUs continue to be contracted ahead of delivery on an average term of 2 years, at pricing that supports a ~2-year revenue payback.

IREN Limited is rated a "Buy" due to its transformation from Bitcoin mining to AI cloud and data center services. IREN is rapidly expanding its GPU fleet, aiming to shift its revenue mix from volatile crypto mining to more stable, high-margin AI infrastructure services. Despite its mining roots, IREN's forward valuation remains attractive, trading at a discount to neocloud peers like CoreWeave and Nebius, with strong upside potential.

Shares of IREN Limited (IREN 14.59%), the former Bitcoin miner, rocketed 77.2% in September, according to data from S&P Global Market Intelligence.

Shares of Iren Limited (IREN 14.62%) rallied 11.2% on Monday, as of 12:23 p.m. ET.

IREN Limited (NASDAQ:IREN) shares reached a new all-time high on Friday after the stock climbed more than 21% this week driven by retail investor optimism.

Thus far, 2025 has been another good year for the stock market. The last month in particular has been especially strong, with the S&P 500 now up just over 15% year-to-date.

Data center stocks have done well in the past few years as demand for computing powers jumped. This growth may continue in the coming years as analysts predict robust spending in the industry.

IREN (IREN) is rapidly scaling datacenter capacity, leveraging vertical integration and standardized modular designs for unmatched efficiency and speed. IREN's AI cloud business is poised for significant growth, targeting $200–$250 million in annualized revenue, diversifying beyond its core Bitcoin mining operations. Strategic power procurement and secured 2.9 GW grid capacity position IREN for long-term cost advantages and scalable infrastructure expansion.

IREN stock (NASDAQ: IREN), which is the largest publicly listed Bitcoin miner that has shifted its focus to AI cloud computing, has emerged as one of the most notable stocks of 2025, increasing nearly four times year-to-date to approximately $42. Nevertheless, the upward momentum weakened on Friday, as the stock dropped nearly 10% following JPMorgan's downgrade from neutral to underweight, effectively categorizing it as a sell.

Over the past few stock market trading sessions, investors have become progressively more bullish on the future of crypto miner and data center company Iren (IREN 9.33%). At least some of this improving sentiment has to do with positive analyst takes; sure enough, on Monday, a pundit's monster price target increase helped lead another bull run on the shares.

IREN Limited is well-positioned after pivoting from crypto mining to AI cloud services, leveraging its substantial GPU infrastructure. The crypto miner's AI business is rapidly scaling, with management targeting $500M ARR by Q1 next year, supported by strong revenue growth and margin expansion. IREN offers 810 MW of GPU capacity online, making it an attractive partner for hyperscalers and frontier AI labs, and is attractively valued versus peers.

A dramatic surge in a stock's value often signals a profound shift in its underlying business. For IREN Limited NASDAQ: IREN (formerly known as Iris Energy Limited), the story is no different.

Although the performance of stocks never depends entirely on the opinions of analysts, those market professionals can have quite an impact at times. More than once this week, crypto mining company Iren (IREN -9.57%) experienced that dynamic.