NEW YORK, Jan 25, 2026, 09:03 EST — Market closed
- IREN shares ended Friday with an 8.4% gain, closing at $56.68
- Bitcoin hovered close to $88,780, keeping crypto-related stocks active
- Traders are eyeing two key upcoming events: the Fed meeting on Jan. 28 and IREN’s earnings report on Feb. 5
IREN Limited shares closed Friday up 8.4% at $56.68, after trading in a range from $50.14 to $58.55. The U.S. market remains closed over the weekend.
This shift is significant since IREN has morphed into a quick-play proxy for two bets simultaneously: bitcoin-connected miners and the rush for data-center space to handle AI workloads.
Trading kicks back in on Monday, and investors are eager to see if crypto can keep its footing. The focus is also on whether demand remains strong for the high-volatility stocks that have driven January’s wild swings.
Bitcoin hovered near $88,780. Shares of U.S.-listed miners Marathon Digital, Riot Platforms, and CleanSpark edged up slightly on Friday.
IREN, an Australia-based firm traded in the U.S., runs data centers it’s leveraged for bitcoin mining and is now branching into AI cloud services — essentially renting out its chip-intensive computing capacity to clients. 1
The company plans to release its earnings for the quarter ending Dec. 31 on Thursday, Feb. 5, followed by a conference call at 5:00 p.m. Eastern. 2
Investors are turning their attention back to Microsoft. Last year, the company inked a $9.7 billion, five-year deal with IREN, tied to access to Nvidia’s cutting-edge chips, Reuters reported. Dell is handling the equipment supply. The rollout is planned through 2026 at IREN’s Childress, Texas, campus, with a contract clause allowing termination if IREN misses delivery deadlines. 3
Feb. 5 will focus less on headlines and more on the nuts and bolts: the speed of build-out, funding requirements, and how fast AI capacity can expand without pressuring the company’s existing mining operations.
Co-founder and co-CEO Daniel Roberts highlighted the AI build in the company’s latest quarterly report, noting that IREN was achieving “meaningful progress in our AI Cloud expansion.” 4
The downside risk remains. A sudden plunge in bitcoin prices can squeeze mining cash flow fast, while setbacks in new infrastructure or chip shipments could delay the AI rollout and increase funding strains.
Looking ahead to the week, the broader market could take the lead. The Federal Reserve is set to announce its policy decision on Wednesday, Jan. 28, followed by a press conference at 2:30 p.m. ET — an event that could shake up risk assets and crypto. 5
For IREN, all eyes turn to Feb. 5, when the company releases its results and holds a conference call. Investors will be looking for clear progress on AI implementation and details on financing the rollout. 6
