IREN Jumps 17% on Record Earnings and Nvidia Preferred Partner Deal

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.