New York, Jan 28, 2026, 05:33 EST — Premarket
IREN Limited (IREN.O) shares ticked up 0.4% to $60.24 in premarket action Wednesday, following a hefty 14.6% jump to $59.99 in the prior session. On Tuesday, the stock swung between $52.90 and $60.00, with volume hitting roughly 54 million shares, according to StockAnalysis.com data. 1
The whipsaw thrusts IREN back into the high-volatility category. It occupies a volatile crossroads: bitcoin mining combined with the rush to develop AI data centers, a combination that can push the stock sharply up or down.
IREN will release its results for the quarter ending Dec. 31 on Feb. 5, followed by a conference call at 5 p.m. Eastern, the company announced. 2
Bitcoin climbed roughly 1.7% to $89,297, while U.S.-listed miners followed suit. Riot Platforms jumped around 8%, and Marathon Digital added close to 5% in early trading.
The AI-infrastructure space saw notable moves as Nvidia announced a $2 billion investment in CoreWeave on Monday. The company, known as a “neocloud” provider specializing in GPU rentals, drew praise from CoreWeave CEO Michael Intrator, who described Nvidia as “the leading and most requested computing platform at every phase of AI.” 3
IREN doubled down on its strategy after landing a roughly $9.7 billion deal with Microsoft to supply Nvidia GB300-based cloud capacity. Deployments will roll out through 2026 at its Childress, Texas campus, with a customer prepayment factored into the arrangement. Co-CEO Daniel Roberts called the deal a “validation” of IREN’s role as a trusted AI Cloud services provider, while Microsoft’s Jonathan Tinter highlighted IREN’s “secured power capacity” as a key edge. 4
However, IREN’s Microsoft deal carries a termination risk if delivery deadlines slip. Competition for chips and power is intensifying among GPU cloud providers, piling on extra execution pressure. 5
IREN, an Australian company, operates data centers in Canada and Texas that focus on bitcoin mining and AI cloud services, according to Reuters company data. 6
Investors will be eyeing whether the stock can maintain its gains through the next session and into next week, ahead of the Feb. 5 report. Attention will also focus on whether management provides a clearer timeline on build progress, spending, and GPU capacity demand.
