IREN Limited IREN

IREN Limited is navigating a significant transformation from Bitcoin mining to AI cloud services, driven by major contracts totaling over $18 billion with Microsoft, Nvidia, and Dell. The latest quarterly report noted a revenue of $144.8 million and a volatile stock price, reflecting market uncertainty despite strong growth potential in AI-driven infrastructure. The company targets $4.4 billion in annual recurring revenue, continuing to invest heavily in expanding its cloud capabilities while addressing investor concerns over execution risks amid rapid expansion.