IREN stock price has surged this year as it continues to benefit from its pivot from being a mere Bitcoin miner to an AI data center business. It jumped to a high of $25 on Thursday, it highest level since November 2021 and 400% from the year-to-date low.
IREN Stock Surges After Earnings
IREN Limited share price has staged a strong rally in the past few months as it continued to accelerate its business in the artificial intelligence industry.
The company published strong financial results today, Aug. 28. Its revenue jumped to $187.3 million in Q4’25, up from the $144 million it made in the prior quarter. The revenue increased by 255% from the Q1’25 level.
Most of this revenue, $180 million, came from its Bitcoin mining operations, while the rest was from the AI cloud segment. IREN made a net profit of $176 million.
With Bitcoin mining difficulty rising, the company is aiming to replicate the success of CoreWeave (CRWV). CoreWeave has become one of the biggest AI infrastructure players with over 33 data centers. It recently announced that it would acquire Core Scientific, another Bitcoin miner that has transitioned to AI.
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IREN is hoping that the AI division’s annualized revenue will be between $200 million and $250 million by December as it expands its Blackwell purchases. It is also ramping up the construction of the 2GW Sweetwater data center in Texas, which sits on 1,800 acres of land and with a capacity of 700,000 GPUs.
Most importantly, IREN’s Bitcoin mining operation is booming and is supported by its low-energy sources. A recent report showed that it mined 728 Bitcoins in July, up from 620 in the previous month, as the average hash rate rose to 45.4 EH/s
Wall Street analysts are highly bullish on the IREN share price. The average estimate is that its annual revenue will jump 170% in 2025 to $510 million and then soar to $941 million in the next quarter.
IREN Stock Price Technical Analysis
The chart shows that the IREN share price has been in a strong bull run in the past few months. It recently moved above the important resistance level at $15.9, where it formed a double-top pattern.
The stock has moved above the ascending trendline that connects the lowest swings since 2023. It has also jumped above all moving averages, a sign that it is gaining momentum.
A closer look shows that it is fast approaching the important resistance level at $28.27, its all-time high. Therefore, the most likely scenario is where it jumps to a record high as the momentum accelerates.
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