Added to YB: 2026-09-02
Pitch date: 2026-08-29
IREN [bullish]
IREN Limited
+2.82%
current return
Author Info
No bio for this author
Company Info
IREN Limited operates as a vertically integrated AI cloud services platform in Australia and Canada. It develops, owns, and operate data centers, including the associated land, grid connections, and substations, as well as buildings and cooling.
Market Cap
$14.0B
Pitch Price
$35.81
Price Target
N/A
Dividend
N/A
EV/EBITDA
414.98
P/E
-15.95
EV/Sales
22.51
Sector
Software
Category
growth
IREN Q2 2026: Sayonara Bitcoin and Hello AI Cloud!
IREN (earnings): The Bitcoin-to-AI transition reached an inflection point as AI cloud revenue doubled sequentially to $71M and exceeded Bitcoin revenue for the first time. Horizon 1 acceptance lifted ARR from roughly $500M to $1B, with contracted capacity supporting management’s December 2026 target above $4B. Execution hinges on delivering Horizons 2-4 and funding $25-30B of capex after 47% share-count growth; if successful, rising IT load and ARR could drive the stock higher from a roughly $13B market cap.
Read full article (13 min)