New York, Jan 13, 2026, 11:36 ET — Regular session
IREN Limited shares ticked up roughly 1% to $50.82 around midday Tuesday. The boost came after H.C. Wainwright raised its rating on the Nasdaq-listed firm to “buy,” attaching an $80 price target. 1
Bitcoin climbed roughly 1.5% to $93,434, while mining-related stocks like Marathon Digital, Riot Platforms, and CleanSpark also saw gains.
The upgrade is significant since IREN now stands as a high-beta play linked to two volatile arenas: crypto prices and the race for AI computing power. When risk appetite changes, the stock can swing sharply.
Investors are also wrestling with a more straightforward question: will the company’s AI expansion generate consistent revenue before bitcoin’s volatility impacts margins once more. The market’s tolerance is running thin.
H.C. Wainwright’s latest call adds to the chorus of brokers reshaping the outlook on a name that has seen multiple re-ratings amid debates over funding and the pace of new capacity coming online. Remember, price targets reflect a broker’s forecast of where the stock might land within a year—they’re not set in stone.
IREN has positioned itself as a data-center operator capable of providing large GPU clusters for AI tasks, all while maintaining bitcoin mining operations on the side.
In November, the company inked a multi-year deal with Microsoft worth roughly $9.7 billion to supply AI cloud infrastructure using Nvidia GB300 GPUs at its Childress, Texas campus. “This agreement validates IREN’s position as a trusted provider of AI Cloud services,” said co-CEO Daniel Roberts. Microsoft’s Jonathan Tinter commented, “Together with IREN, Microsoft is delivering cutting-edge AI infrastructure.” 2
The contract faces tight execution risks. Reuters noted the deal may be canceled if IREN misses delivery deadlines, and Microsoft warned AI capacity shortages might last until mid-2026. 3
At the moment, traders view IREN as a leveraged barometer for the crypto sector’s resilience and the AI data-center story’s comeback. When bitcoin prices rise, miner stocks usually follow—even without any new company updates.
The downside risks remain clear: setbacks in power or data-center construction, GPU shortages, or a sudden shift in funding markets pushing companies to raise dilutive capital. A steep bitcoin drop would likely test the stock’s support level once more, while any delays in delivery schedules could shake confidence in the AI revenue growth narrative.
IREN’s upcoming quarterly earnings report is the next major trigger, with MarketBeat pegging the release for Feb. 11 after markets close—though the company hasn’t officially announced the date. As that day nears, investors will focus on updates about the buildout schedule and the pace of customer growth. 4
