IREN Stock Skyrockets 500% on AI Cloud Pivot — Bitcoin Miner’s Meteoric Rally Stuns Market
IREN shares surged from under $10 in January to over $74 on Oct. 14, before retreating to $53.80 midday Oct. 21. The company reported its first annual profit with FY2025 net income of $86.9 million on $501 million revenue. In September, IREN ordered $674 million in GPUs and signed multi-year AI cloud contracts. On Oct. 21, IREN priced $875 million in convertible notes for expansion.
