IREN Limited (IREN)

AU — Financial Services Sector
Peers: NMR  FUTU  GLXY  TW  KEY  PFG  HLI  BAP 

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Key Metrics & Ratings

  • symbol IREN
  • Rev/Share 2.3269
  • Book/Share 8.3901
  • PB 7.4397
  • Debt/Equity 0.5305
  • CurrentRatio 4.2932
  • ROIC 0.0058

 

  • MktCap 16924447006.0
  • FreeCF/Share -4.9725
  • PFCF -15.712
  • PE 155.5212
  • Debt/Assets 0.3279
  • DivYield 0
  • ROE 0.0615

 

  • Rating C+
  • Score 2
  • Recommendation Sell
  • P/E Score 1
  • DCF Score 1
  • P/B Score 2
  • D/E Score 2

Recent Analyst Ratings

Type Ticker Analyst Firm Previous Rating Current Rating Previous Price Target Current Price Target Date
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
Downgrade IREN JP Morgan Overweight Neutral $9.5 $15 Dec. 10, 2024
Initiation IREN ROTH MKM -- Buy -- $14 Oct. 2, 2024

News

These stock categories are crushing it in 2025; Time to buy?
IREN
Published: October 26, 2025 by: Finbold
Sentiment: Positive

As the stock market hits new highs, equities in cryptocurrency mining and data center infrastructure are emerging as some of 2025's biggest winners.

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image for news These stock categories are crushing it in 2025; Time to buy?
IREN's 8.26X P/B Suggests Stretched Valuation: Hold or Fold the Stock?
IREN
Published: October 22, 2025 by: Zacks Investment Research
Sentiment: Neutral

IREN's soaring valuation at 8.26X P/B and modest earnings outlook raise doubts despite its rapid Bitcoin and AI Cloud growth.

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image for news IREN's 8.26X P/B Suggests Stretched Valuation: Hold or Fold the Stock?
Defiance Launches IRE: The First 2X Long ETF for IREN Limited
IREN
Published: October 21, 2025 by: GlobeNewsWire
Sentiment: Neutral

MIAMI, Oct. 21, 2025 (GLOBE NEWSWIRE) -- Defiance ETFs is proud to announce the launch of the Defiance Daily Target 2X Long IREN ETF (Ticker: IRE) , expanding its suite of single-stock leveraged ETFs designed for active traders seeking amplified exposure to innovative, high-growth companies. The newest addition, IRE, is designed for traders who seek magnified, short-term bullish exposure to IREN Limited (NASDAQ: IREN), a global data center operator and Bitcoin mining company.

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image for news Defiance Launches IRE: The First 2X Long ETF for IREN Limited
IREN Limited (IREN) Moves 6.8% Higher: Will This Strength Last?
IREN
Published: October 08, 2025 by: Zacks Investment Research
Sentiment: Positive

IREN Limited (IREN) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.

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image for news IREN Limited (IREN) Moves 6.8% Higher: Will This Strength Last?
3 Best Performing Stocks in 2025 (OKLO, IREN, NBIS)
IREN, NBIS, OKLO
Published: October 03, 2025 by: Zacks Investment Research
Sentiment: Positive

Thus far, 2025 has been another good year for the stock market. The last month in particular has been especially strong, with the S&P 500 now up just over 15% year-to-date.

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image for news 3 Best Performing Stocks in 2025 (OKLO, IREN, NBIS)
IREN: Juggernaut In The Making
IREN
Published: September 30, 2025 by: Seeking Alpha
Sentiment: Positive

IREN (IREN) is rapidly scaling datacenter capacity, leveraging vertical integration and standardized modular designs for unmatched efficiency and speed. IREN's AI cloud business is poised for significant growth, targeting $200–$250 million in annualized revenue, diversifying beyond its core Bitcoin mining operations. Strategic power procurement and secured 2.9 GW grid capacity position IREN for long-term cost advantages and scalable infrastructure expansion.

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image for news IREN: Juggernaut In The Making
BTC To AI: IREN Stock Compelling After Sell Off?
IREN
Published: September 30, 2025 by: Forbes
Sentiment: Negative

IREN stock (NASDAQ: IREN), which is the largest publicly listed Bitcoin miner that has shifted its focus to AI cloud computing, has emerged as one of the most notable stocks of 2025, increasing nearly four times year-to-date to approximately $42. Nevertheless, the upward momentum weakened on Friday, as the stock dropped nearly 10% following JPMorgan's downgrade from neutral to underweight, effectively categorizing it as a sell.

Read More
image for news BTC To AI: IREN Stock Compelling After Sell Off?
IREN's Bull Run Faces Its Next Test
IREN
Published: September 25, 2025 by: Seeking Alpha
Sentiment: Positive

IREN's stock is up 380% year-to-date, with an additional 80% gain since prior coverage, reflecting massive AI-driven momentum. The company purchased $674 million in Nvidia and AMD GPUs, doubling its fleet to 23,000 units for AI workloads. Contracted grid power expanded to nearly 3 GW, while operating data center capacity tripled to 810 MW during FY25.

Read More
image for news IREN's Bull Run Faces Its Next Test
IREN: From Bitcoin Powerhouse To AI Cloud Contender
IREN
Published: September 25, 2025 by: Seeking Alpha
Sentiment: Positive

IREN (Iris Energy) is rapidly scaling as both a top-tier bitcoin miner and a credible AI cloud infrastructure provider. IREN's AI cloud business is gaining momentum, with NVIDIA Preferred Partner status, 23,000 GPUs, and a $500M+ ARR target by Q1 2026. The company's structural advantages include low-carbon power, efficient buildouts, and rapid deployment, positioning IREN ahead of competitors in AI and mining.

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image for news IREN: From Bitcoin Powerhouse To AI Cloud Contender
IREN Expands AI Cloud Capacity: Is the Growth Thesis Strengthening?
IREN
Published: September 22, 2025 by: Zacks Investment Research
Sentiment: Positive

IREN doubles AI cloud capacity to 23k GPUs with a $674M purchase, targeting $500M ARR by early fiscal 2026.

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image for news IREN Expands AI Cloud Capacity: Is the Growth Thesis Strengthening?
IREN: Doubled AI GPUs, Revenue Is Next
IREN
Published: September 22, 2025 by: Seeking Alpha
Sentiment: Positive

IREN Limited doubled its AI GPU fleet to 23,000 GPUs, more than doubling its target of 10,900 by year's end. IREN's expansion primarily leverages Blackwell series Nvidia GPUs giving it a pricing edge and making us expect a fast-paced ARR growth for AI Cloud business, now estimated to be +$500M. There's little margin of safety at current levels if GPU deployment or utilization face any hiccups; however, we think any IREN stock pullback is a buying opportunity.

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image for news IREN: Doubled AI GPUs, Revenue Is Next
CRCL vs. IREN: Which Crypto-Exposure Stock Has an Edge Now?
CRCL, IREN
Published: September 19, 2025 by: Zacks Investment Research
Sentiment: Positive

Circle gains on USDC adoption, but IREN Limited's surging AI cloud revenues and bitcoin mining strength give it an edge.

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image for news CRCL vs. IREN: Which Crypto-Exposure Stock Has an Edge Now?
Is $50 a Share Realistic for IREN Stock?
IREN
Published: September 18, 2025 by: 24/7 Wall Street
Sentiment: Positive

IREN Ltd. (NASDAQ:IREN), which operates data centers and mines Bitcoin (CRYPTO:BTC), went from under-the-radar to over-the-top in 2025.

Read More
image for news Is $50 a Share Realistic for IREN Stock?
The Big 4: OPEN, RKT, WULF, IREN
IREN, OPEN, RKT, WULF
Published: September 12, 2025 by: Schwab Network
Sentiment: Neutral

@Stockstotrade's Tim Bohen breaks the format of the Big 3 and gives us four stocks he believes investors need to watch. He says Opendoor (OPEN) still holds potential on a pullback despite its parabolic rally Thursday.

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image for news The Big 4: OPEN, RKT, WULF, IREN
IREN Limited Jumps 208% Year to Date: Buy, Sell or Hold the Stock?
IREN
Published: September 10, 2025 by: Zacks Investment Research
Sentiment: Positive

IREN's bitcoin mining scale and fast-growing AI Cloud fuel a 207.5% YTD surge, but stretched valuation tempers the outlook.

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image for news IREN Limited Jumps 208% Year to Date: Buy, Sell or Hold the Stock?
IREN: My New Favorite Crypto/AI Play
IREN
Published: September 03, 2025 by: Seeking Alpha
Sentiment: Positive

IREN Limited's AI pivot is accelerating, with a target of $200–$250 million in annualized AI Cloud revenue by December, driven by 10,900 Nvidia GPUs. Recent results were stellar: Q4 revenue hit $187.3M, full-year revenue grew 168%, and Bitcoin mining remains a cash machine. Valuation looks stretched with a 124% premium to sector sales multiples, so execution on AI ramp-up must be flawless to justify current prices.

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image for news IREN: My New Favorite Crypto/AI Play
IREN Shares Jump 26% Despite Q4 Earnings Miss, Revenues Surge Q/Q
IREN
Published: September 03, 2025 by: Zacks Investment Research
Sentiment: Positive

IREN surges after Q4 results show strong bitcoin output, rapid AI cloud growth and ambitious GPU expansion plans.

Read More
image for news IREN Shares Jump 26% Despite Q4 Earnings Miss, Revenues Surge Q/Q
IREN: Major Inflection Point
IREN
Published: September 03, 2025 by: Seeking Alpha
Sentiment: Positive

IREN deserves a buy rating, given its strong revenue and improving profitability profile. The firm's Q4 2025 revenues surged 255% Y/Y, and IREN reported a positive quarter in terms of net income. Hyperscaler-driven investments in GPUs create long-term tailwinds for IREN's Data Center business.

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image for news IREN: Major Inflection Point
IREN Is Up 186% YTD on AI Pivot—And It's Just Getting Started
IREN
Published: September 03, 2025 by: MarketBeat
Sentiment: Positive

Although IREN Limited NASDAQ: IREN is one of the best-performing stocks over the past 12 months, this mid-cap gem may be flying under the radar of many investors. And even those who know of IREN may not fully grasp the bullish opportunity.

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image for news IREN Is Up 186% YTD on AI Pivot—And It's Just Getting Started
How IREN Stock Can Double To $50?
IREN
Published: September 02, 2025 by: Forbes
Sentiment: Positive

IREN Limited has evolved from a pure Bitcoin miner into a diversified AI cloud infrastructure player, posting over 150% year-to-date returns. With Bitcoin around $110,000 (+18% YTD) and IREN's pivot toward AI compute, could the stock double from here to surpass $50?

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image for news How IREN Stock Can Double To $50?
Is Iren Limited Stock Still a Buy?
IREN
Published: September 01, 2025 by: The Motley Fool
Sentiment: Positive

Iren Limited (IREN 14.97%) has emerged as one of the most explosive growth stories of 2025, with shares surging 221% over the past six months and 68% in just the last 30 days. The company's $7.2 billion market cap might seem stretched for a business primarily known for Bitcoin mining just a year ago.

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image for news Is Iren Limited Stock Still a Buy?
IREN Stock Is Climbing 21%. Here's How Nvidia Is Playing a Part.
IREN
Published: August 29, 2025 by: Barrons
Sentiment: Positive

The data-center company announces it is investing another $168 million in Nvidia chips.

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image for news IREN Stock Is Climbing 21%. Here's How Nvidia Is Playing a Part.
Buy, Sell or Hold IREN Stock? Key Tips Ahead of Q4 Earnings
IREN
Published: August 27, 2025 by: Zacks Investment Research
Sentiment: Positive

IREN gears up for fiscal Q4 results with booming bitcoin revenues, rising AI Cloud growth, and major GPU expansion driving momentum.

Read More
image for news Buy, Sell or Hold IREN Stock? Key Tips Ahead of Q4 Earnings
IREN: Power, Cash Flow, Flexibility, Give It Leverage Over The Neo-Cloud Industry
IREN
Published: August 27, 2025 by: Seeking Alpha
Sentiment: Positive

I see IREN as a high-upside, favorable risk/reward play in AI and HPC, similar to early SuperMicro, with >100% upside potential. IREN's unique advantages—massive low-cost power contracts, strong cash flow from BTC mining, and operational flexibility—give it leverage over even the best neo-cloud companies like CRWV and NBIS. Despite a technical knowledge gap, IREN's profitability and power advantage should allow it to close the competency gap and achieve a much higher valuation.

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image for news IREN: Power, Cash Flow, Flexibility, Give It Leverage Over The Neo-Cloud Industry
IREN Expands GPU Fleet With NVIDIA Blackwell: What's the Path Ahead?
IREN
Published: August 26, 2025 by: Zacks Investment Research
Sentiment: Positive

IREN doubles down on AI with 4.2k new NVIDIA GPUs, boosting its Prince George campus fleet and expanding next-gen compute capacity.

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image for news IREN Expands GPU Fleet With NVIDIA Blackwell: What's the Path Ahead?
Strategy vs. IREN: Which Bitcoin-Focused Stock is a Buy Now?
IREN, MSTR
Published: August 22, 2025 by: Zacks Investment Research
Sentiment: Positive

The increasing acceptance of Bitcoin as a store of value benefits MSTR and IREN. Find out which stock is leading now.

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image for news Strategy vs. IREN: Which Bitcoin-Focused Stock is a Buy Now?
IREN Limited Jumps 6% in a Month: Buy, Sell or Hold the Stock?
IREN
Published: August 21, 2025 by: Zacks Investment Research
Sentiment: Positive

IREN's bitcoin mining surge, AI Cloud growth, and new power projects fuel big stock gains despite valuation risks.

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image for news IREN Limited Jumps 6% in a Month: Buy, Sell or Hold the Stock?
IREN: From Mining To Data Centers
IREN
Published: August 21, 2025 by: Seeking Alpha
Sentiment: Positive

IREN Limited uniquely combines high-margin Bitcoin mining with a strategic shift into green AI data centers, driving impressive 128% YoY growth. Ultra-low energy costs (3.3¢/kWh) provide a major competitive advantage in mining, fueling cash flow for aggressive data center expansion. Valuation appears high on a PS basis, but rapid revenue growth and future data center projects make IREN undervalued long-term.

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image for news IREN: From Mining To Data Centers
Iren Limited: An AI, Crypto and Cloud Computing Stock
IREN
Published: August 15, 2025 by: Zacks Investment Research
Sentiment: Positive

Every so often, I come across a stock in my research that checks nearly every box I look for: innovation, growth, strong fundamentals, and technical momentum. Iren Limited ( IREN ) is one of those rare finds.

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image for news Iren Limited: An AI, Crypto and Cloud Computing Stock
IREN Limited (IREN) Just Flashed Golden Cross Signal: Do You Buy?
IREN
Published: August 07, 2025 by: Zacks Investment Research
Sentiment: Positive

From a technical perspective, IREN Limited (IREN) is looking like an interesting pick, as it just reached a key level of support. IREN recently overtook the 20-day moving average, and this suggests a short-term bullish trend.

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image for news IREN Limited (IREN) Just Flashed Golden Cross Signal: Do You Buy?

About IREN Limited (IREN)

  • IPO Date 2021-11-17
  • Website https://iren.com
  • Industry Financial - Capital Markets
  • CEO William Roberts
  • Employees 257

IREN Limited operates in the vertically integrated data center business in Australia and Canada. The company owns and operates computing hardware, as well as electrical infrastructure and data centers. It also mines Bitcoin, a scarce digital asset that is created and transmitted through the operation of a peer-to-peer network of computers running the Bitcoin software. The company was formerly known as Iris Energy Limited and changed its name to IREN Limited in November 2024. The company was incorporated in 2018 and is based in Sydney, Australia.