$IREN Bitcoin Miner And AI Play Iren Jumps 17% On Earnings And This New Nvidia Status https://t.co/L2IRJFcLkm
Bitcoin miner IREN jumps after Q4 profit beat, Nvidia partner status Canaccord Genuity analyst Joseph Vafi maintains IREN (NASDAQ:IREN) with a Buy and raises the price target from $23 to $37.
$IREN (+16.8% pre) 10.9k $NVDA NVIDIA GPUs: IREN Scales AI Cloud with $168M B300/GB300 Expansion, Preferred Partner Status https://t.co/BM9TP6FoyK
Bitcoin-miner-turned-AI-cloud provider IREN Ltd reported record results for fiscal 2025, posting $501 million in revenue, $87 million in net income and $278 million in EBITDA. Fourth-quarter revenue reached $187 million, also a company high. The Sydney-based firm said it will spend $168 million to add 10,900 Nvidia B300 and GB300 GPUs and has been granted Nvidia preferred partner status. Management said the additional chips will support a full-stack AI cloud while preserving optionality for high-performance-computing colocation customers. Investors cheered the update, sending IREN shares up roughly 17 percent in pre-market trading on Thursday. Analysts responded as well: Roth MKM lifted its price target to $35, while Canaccord Genuity raised its view to $37 and reiterated a Buy rating.
