Our Stock of the Week is IREN Limited (IREN). IREN is an Australia-based company that owns and operates next-generation data centers powered entirely by renewable energy. It is headquartered in Sydney, Australia, and was founded in 2018. IREN focuses on providing high-performance computing solutions in the following areas:
- Bitcoin Mining: IREN operates large-scale, grid-connected data centers optimized for Bitcoin mining, primarily using hydroelectric energy in regions like British Columbia, Canada, and expanding to Texas, USA.
- AI Cloud Services: IREN has pivoted to support artificial intelligence (AI) workloads. It offers AI cloud services using NVIDIA GPUs and advanced infrastructure designed for demanding AI training and inference tasks. This includes partnerships, such as with Dell (DELL), to provide sustainable AI solutions for enterprises and startups.
- High-Performance Computing (HPC): The company’s data centers are purpose-built for power-dense computing applications, including colocation and build-to-suit infrastructure for scalable workloads. They are strategically located in renewable-rich, fiber-connected regions across North America, with 6 data centers, 2,409 acres of land, and 2,910 MW of secured power.
- Renewable Energy Focus: IREN emphasizes sustainability, using 100% renewable energy (sourced directly or through renewable energy credits) for its operations, aligning with environmental goals. Its facilities are vertically integrated, allowing control over site development, power procurement, and operations for efficiency and reliability.
In the first quarter of 2025, the company saw revenues grow 172% to $148.1 million, and eps improved to $0.11 from $0.08. For the fiscal year ending June 30, 2026, the company expects eps of $1.16. Its next earnings report is due on August 28 after the close.
Technically, the stock has been in a trading range in the $15 to $20 area since early July. It is pushing against overhead resistance at $20 and has had good volume and momentum. As always, we will not chase the stock on Monday but will look to aggressively trade it as it develops further.
As always, we do not plan to chase the open on Monday but will aggressively trade the stock as it develops.
This post is for educational purposes only! This is not advice or a recommendation. We do not give investment advice. Do not act on this post. Do not buy, sell, or trade the stocks mentioned herein. We WILL actively trade this stock differently than discussed herein. We will sell into strength and buy or sell anytime for any reason. We will actively trade into any unusual activity. At the time of this post, principals, employees, and affiliates of Shark Investing, Inc. and/or principals, clients, employees, and affiliates of Hammerhead Financial Strategies, LLC, directly or indirectly, controlled investment and/or trading accounts containing positions in IREN. To accommodate the objectives of these investing and/or trading accounts, the trading in these shares will be contrary to and/or inconsistent with the information contained in this posting.
