View All Stock Evaluations | Evaluation Date: 2026-01-05
IREN Limited is a vertically integrated data center company that generates revenue through two main channels: Bitcoin mining using proprietary data centers powered by 100% renewable energy, and AI cloud services providing high-performance computing (HPC) and GPU-as-a-Service for machine learning workloads. The company secured a transformational $9.7 billion contract with Microsoft in November 2025 to provide AI cloud infrastructure, marking its strategic pivot from crypto mining to hyperscale AI compute.