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- symbol IREN
- Rev/Share 2.5514
- Book/Share 8.426
- PB 4.7507
- Debt/Equity 1.5302
- CurrentRatio 4.9601
- ROIC 0.0002
- MktCap 13280319855.0
- FreeCF/Share -0.8709
- PFCF -51.1645
- PE -742.7028
- Debt/Assets 0.5468
- DivYield 0
- ROE -0.0074
- Rating D+
- Score 1
- Recommendation Strong Sell
- P/E Score 1
- DCF Score 1
- P/B Score 1
- D/E Score 1
Recent Analyst Ratings
| Type | Ticker | Analyst Firm | Previous Rating | Current Rating | Previous Price Target | Current Price Target | Date |
|---|---|---|---|---|---|---|---|
| Upgrade | IREN | H.C. Wainwright | Sell | Buy | -- | $80 | Jan. 13, 2026 |
| Initiation | IREN | Goldman | -- | Neutral | -- | $39 | Dec. 18, 2025 |
| Initiation | IREN | Citizens JMP | -- | Mkt Outperform | -- | $80 | Nov. 19, 2025 |
| Downgrade | IREN | H.C. Wainwright | Buy | Sell | -- | $45 | Oct. 29, 2025 |
| Downgrade | IREN | JP Morgan | Neutral | Underweight | -- | $24 | Sept. 26, 2025 |
| Initiation | IREN | Arete | -- | Buy | -- | $78 | Sept. 24, 2025 |
| Resumed | IREN | Compass Point | -- | Buy | -- | -- | Sept. 15, 2025 |
| Downgrade | IREN | JP Morgan | Overweight | Neutral | -- | $16 | July 28, 2025 |
| Upgrade | IREN | JP Morgan | Neutral | Overweight | $15 | $12 | March 13, 2025 |
| Initiation | IREN | BTIG Research | -- | Buy | -- | $33 | Dec. 20, 2024 |
News
IREN Drops 14% as Bitcoin Mining Revenue Falls to $167 Million
Published: February 13, 2026 by: 24/7 Wall Street
Sentiment: Negative
After IREN (NASDAQ:IREN) plunged 13.9% on February 4, 2026, retail sentiment soured as Reddit's sentiment score dropped to 39 this week from a quarterly average of 42, with discussions emerging on r/wallstreetbets and r/options analyzing and dissecting Q2 results.
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IREN Bounces Back: The Market Votes Yes as Big Banks Step In
Published: February 12, 2026 by: MarketBeat
Sentiment: Neutral
The trading week following IREN Limited's NASDAQ: IREN second-quarter earnings report has provided a textbook example of market resilience. On Feb. 5, the company released financial results that missed Wall Street expectations on both revenue and earnings.
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IREN Aims for $3.4B AI Cloud ARR by 2026: Can it Hit the Target?
Published: February 11, 2026 by: Zacks Investment Research
Sentiment: Neutral
IREN targets $3.4 billion AI cloud ARR by 2026, backed by Microsoft deals, GPU financing and 4.5 GW of secured power capacity.
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Should You Buy, Sell or Hold IREN Stock Post Q2 Earnings?
Published: February 09, 2026 by: Zacks Investment Research
Sentiment: Positive
IREN shares rise post-Q2 on surging AI cloud momentum, but rising competition and a premium valuation point to a cautious hold.
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Why IREN's Post-Market Selloff Misses The Big Picture
Published: February 06, 2026 by: Seeking Alpha
Sentiment: Neutral
Iren Limited is executing a strategic pivot from Bitcoin mining to contracted AI infrastructure, with AI Cloud revenue up 136% QoQ to $17 million. IREN secured $3.6 billion in GPU financing and $1.9 billion in customer prepayments, covering 95% of GPU capex and reducing future dilution risk. Despite a headline net loss, adjusted EBITDA remained positive at $75.3 million (41% margin), signaling resilient core operations during the transition.
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IREN's Q2 Loss Wider Than Expected, Revenues Decline Q/Q
Published: February 06, 2026 by: Zacks Investment Research
Sentiment: Negative
IREN's Q2 FY26 loss widens as revenues fall 23% Q/Q, hurt by non-cash charges, despite fast growth in AI cloud services.
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IREN: Don't Buy This Heavy Dip (Earnings Review)
Published: February 06, 2026 by: Seeking Alpha
Sentiment: Negative
IREN Ltd. is downgraded to 'Sell' after a sharp Q2 2026 double miss on EPS and revenue. IREN's AI cloud revenue grew 137% QoQ but remains under 10% of total, while Bitcoin mining revenue slumped 28% QoQ. Execution risk is high as IREN must scale AI revenues ~68x to meet ambitious ARR targets, with zero margin for error.
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IREN Earnings Were Ugly—Is a Beautiful Future Already Funded?
Published: February 06, 2026 by: MarketBeat
Sentiment: Negative
Shares of IREN Limited NASDAQ: IREN experienced a turbulent trading session on Feb. 5, 2026, closing down more than 11% after the company released its second-quarter financial results. The sell-off deepened in after-hours trading, driven by a revenue miss and a widened net loss that caught investors off guard.
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IREN: Why The AI Transition Still Isn't Fully Priced In
Published: February 03, 2026 by: Seeking Alpha
Sentiment: Positive
IREN remains a buy ahead of 2Q26 in my book, driven by its transition from Bitcoin mining to AI cloud infrastructure. IREN's AI data center pipeline, expanding margins, and hyperscaler contracts, especially with Microsoft, support improved revenue visibility and multiple expansions. Valuation is compelling: IREN trades at a forward PE of 50.25x, roughly half that of key peer Nebius, with strong technical support and momentum.
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Will GPU Expansion & Data Center Growth Boost IREN's Q2 Earnings?
Published: February 02, 2026 by: Zacks Investment Research
Sentiment: Positive
IREN Limited's Q2 FY26 results are likely to reflect strong AI cloud revenue growth from GPU expansion, partly offset by heavy capital spending needs.
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IREN Has Become A Buy Ahead Of Earnings (Preview)
Published: February 02, 2026 by: Seeking Alpha
Sentiment: Neutral
IREN Has Become A Buy Ahead Of Earnings (Preview)
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IREN Limited Gears Up for Q2 Earnings: What Lies Ahead for the Stock?
Published: January 30, 2026 by: Zacks Investment Research
Sentiment: Positive
IREN's fiscal Q2 results are likely to reflect strong AI cloud-led revenue growth and GPU expansion, offset by heavy capex needs and valuation pressure.
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Analysts Estimate IREN Limited (IREN) to Report a Decline in Earnings: What to Look Out for
Published: January 29, 2026 by: Zacks Investment Research
Sentiment: Negative
IREN Limited (IREN) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
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IREN: Why I'm Still Bullish Heading Into Earnings
Published: January 27, 2026 by: Seeking Alpha
Sentiment: Positive
Investors are watching whether contracted ARR continues converting as power activates, not whether reported revenue beats short-term consensus estimates. Sweetwater 1's ~1.4GW energization timeline remains the key swing factor determining ARR realization and valuation durability into FY26. Consensus models back-half revenue acceleration, implying power comes online as scheduled rather than signaling any demand-related slowdown.
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Can IREN's Vertically Integrated AI Cloud Platform Lift Profitability?
Published: January 16, 2026 by: Zacks Investment Research
Sentiment: Positive
IREN's vertically integrated AI cloud targets higher margins, with an 85% EBITDA Microsoft deal, lower power costs and rapidly improving profitability.
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IREN or HUT: Which Bitcoin Infrastructure Stock Should You Bet On?
Published: January 16, 2026 by: Zacks Investment Research
Sentiment: Negative
IREN Limited's vertically integrated, renewable-powered platform and AI pivot set it apart from HUT 8 amid Bitcoin volatility and rising data-center demand.
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IREN: Cheap Valuation Means I Am Doubling Down
Published: January 13, 2026 by: Seeking Alpha
Sentiment: Positive
IREN Limited (IREN) is reiterated as a 'Strong Buy' after a 17% dip, with fundamentals and AI-driven growth intact. Management targets $3.4 billion in annualized AI cloud revenue by end-2026, supported by multi-year contracts including Microsoft. IREN trades at a forward P/S below 5 and FY2028 P/E of 16, with net cash and strong profitability, making valuation highly attractive.
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Is 2026 The Year to Load Up on Crypto Miners?
Published: January 07, 2026 by: MarketBeat
Sentiment: Positive
In 2025, Bitcoin soared to an all-time high of around $126,000 among other wins for the cryptocurrency industry—including easing regulations, new stablecoin legislation, and the impending launch of a flurry of new crypto-focused exchange-traded funds (ETFs). However, the world's largest digital token couldn't keep the rally up and has since plunged to below $94,000.
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IREN Stock Trading at a P/S of 24.12X: Should You Buy, Sell or Hold?
Published: January 07, 2026 by: Zacks Investment Research
Sentiment: Neutral
IREN Limited trades at a lofty 24.12X P/S as its AI Cloud pipeline, Microsoft contract and rising earnings keep the stock in hold territory.
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IREN's GPU Expansion Accelerates: Is Revenue Visibility Improving?
Published: January 05, 2026 by: Zacks Investment Research
Sentiment: Positive
IREN's expanding GPU fleet, Microsoft AI Cloud contract and vertically integrated model are boosting revenue visibility as deployments ramp through 2026.
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IREN: Power To Compute Is Building The Moat (Rating Upgrade)
Published: January 02, 2026 by: Seeking Alpha
Sentiment: Positive
IREN Limited rallied on its Microsoft deal, then fell over 50% from highs; I'm upgrading to Buy because risk is better priced now for 2026 upside. Microsoft signed a $9.7B, five-year contract, with 20% prepayment; GPUs deploy through 2026 at Childress, targeting 200MW IT capacity, and support hyperscale power to compute. Financing is the crux: IREN borrowed against contracted cash flows, issuing $2.3B in convertibles, repurchasing $544M in notes, and adding capped calls near $82 to limit dilution.
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IREN: Building Its True Moat For Long-Term Value Creation
Published: January 02, 2026 by: Seeking Alpha
Sentiment: Positive
IREN Limited transforms from Bitcoin miner to leading vertically integrated AI-infrastructure operator, securing ~3 GW of low-cost, grid-connected power across North America. IREN's early acquisition of land, power, and interconnection establishes a formidable moat, enabling rapid AI data center expansion while competitors face multi-year delays. The $9.7B, 5-year Microsoft contract—with $1.9B upfront—validates IREN's infrastructure, driving projected ~85% project margins and de-risking capital outlay.
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Here's Why The Drop In IREN Stock Makes No Sense
Published: December 29, 2025 by: 24/7 Wall Street
Sentiment: Positive
IREN (NASDAQ:IREN) looked like an unstoppable growth stock from April to the end of October, gaining more than 1,000% during that stretch.
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IREN's AI Client Base Expands: Is Growth Becoming More Durable?
Published: December 26, 2025 by: Zacks Investment Research
Sentiment: Positive
IREN's expanding AI client base, new multi-year wins, and record $240M quarterly revenue point to more durable growth beyond a single anchor.
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Analysts See Triple-Digit Revenue Growth in 2026 for These 3 AI Infrastructure Stocks
Published: December 26, 2025 by: 24/7 Wall Street
Sentiment: Neutral
Artificial intelligence is driving explosive demand for computing power as companies invest heavily to develop and deploy AI models.
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Can Iren Stock Beat the Market in 2026?
Published: December 21, 2025 by: The Motley Fool
Sentiment: Neutral
Oracle rumors dragged Iren and other AI stocks, but that doesn't concern Iren. Lower Bitcoin prices will hurt Bitcoin mining revenue, but the company's $3.4 billion in projected annual recurring revenue from AI shows that Bitcoin mining revenue won't matter as much in the future.
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IREN: Big Contract Catalyst
Published: December 19, 2025 by: Seeking Alpha
Sentiment: Positive
IREN Limited is positioned for strong AI data center growth, anchored by a $9.7 billion Microsoft contract. Despite sector volatility and market skepticism, IREN forecasts $3.4 billion ARR by 2026, leveraging only 16% of its data center power pipeline. A recent $4 billion capital raise strengthens IREN's balance sheet, enabling GPU procurement and further data center buildout.
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Here's why the IREN stock price has crashed and why it may hit $20 soon
Published: December 16, 2025 by: Invezz
Sentiment: Negative
The IREN stock price made a strong bearish breakout on Monday as it plunged to its lowest level since September this year. It has now erased some of the gains it made a few months ago when it jumped from $5 to $76.
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Can IREN Sustain Growth Amid Its Rapidly Mounting Capex Burden?
Published: December 15, 2025 by: Zacks Investment Research
Sentiment: Positive
IREN's AI cloud push targets massive growth, but soaring GPU and data-center capex are straining cash flow and reshaping its long-term financial path.
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Paul Tudor Jones Trims IREN After A 300% Run — AI Story Still Intact
Published: December 15, 2025 by: Benzinga
Sentiment: Neutral
IREN Ltd (NASDAQ: IREN) has been one of the market's most explosive AI infrastructure trades of 2025, riding a dramatic pivot from crypto mining into AI cloud and GPU services. IREN stock is up 285% in six months.
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About IREN Limited (IREN)
- IPO Date 2021-11-17
- Website https://iren.com
- Industry Financial - Capital Markets
- CEO William Roberts
- Employees 257