IREN Stock Soars! Bitcoin Miner Doubles AI Cloud Fleet – Here's Why!

IREN Shares Skyrocket After AI Cloud Expansion

Shares of IREN (IREN) experienced a significant surge, jumping 11% in pre-market trading to $43. This impressive climb follows the company's announcement that it has doubled its AI Cloud capacity, now boasting a substantial 23,000 GPUs. This expansion is projected to elevate IREN's annualized run-rate revenue target to over $500 million by the first quarter of 2026.

The company's strategic investment of approximately $674 million has facilitated the acquisition of cutting-edge hardware, including 7,100 NVIDIA B300s, 4,200 NVIDIA B200s, and 1,100 AMD MI350Xs. These deliveries will be strategically phased over the coming months at IREN's Prince George campus. Coupled with its Texas facilities, IREN is poised to eventually accommodate over 60,000 Blackwell GPUs.

The expanded fleet now comprises a diverse array of high-performance GPUs, including 1,900 NVIDIA H100s and H200s, 19,100 NVIDIA B200s and B300s, 1,200 NVIDIA GB300s, and the aforementioned 1,100 AMD MI350Xs. The integration of AMD hardware broadens IREN’s service offerings and expands its potential customer base.

Strategic Vision for AI Dominance

“As global demand for compute accelerates, customers are increasingly seeking partners who can deliver scale quickly,” stated Co-CEO Daniel Roberts. “Doubling our fleet to more than 23,000 GPUs in just a few months highlights the strength of our vertically integrated platform.”

IREN is actively pursuing financing initiatives to bolster its growth trajectory while simultaneously safeguarding its 50 EH/s bitcoin (BTC) mining operations. This strategic approach underscores IREN's commitment to both the AI cloud and cryptocurrency sectors.