Core Insights - IREN Limited has signed a multi-year GPU cloud services contract with Microsoft valued at approximately $9.7 billion, which includes a 20% prepayment [1] - The company will provide NVIDIA GB300 GPUs over a five-year term, with an additional agreement with Dell Technologies for GPU and ancillary equipment purchases totaling around $5.8 billion [1][2] - The deployment of GPUs will occur in phases through 2026 at IREN's 750MW Childress, Texas campus, supporting new liquid-cooled data centers with a total critical IT load of 200MW [1] Financial Aspects - The total contract value for the agreement with Microsoft is approximately $9.7 billion, which includes a 20% prepayment [1] - IREN plans to fund the capital expenditures related to the contract through existing cash, customer prepayments, operating cash flows, and additional financing initiatives [2] Strategic Partnerships - The partnership with Microsoft is seen as a milestone for IREN, showcasing the strength and scalability of its vertically integrated AI Cloud platform [3] - IREN's collaboration with Microsoft is expected to unlock new growth opportunities for both companies and their customers [5] Market Position - IREN is positioned as a leading AI Cloud Service Provider, focusing on large-scale GPU clusters for AI training and inference [5] - The company is expanding its GPU deployments across a 3GW secured power portfolio in North America, reinforcing its market leadership [4]

Group 1 - Bitcoin is nearing an all-time high, leading to increased enthusiasm among investors for cryptocurrencies, although crypto stocks may provide a better investment opportunity [1] - Crypto stocks have been performing well, with many surpassing the S&P 500, offering exposure to rising crypto prices while generating significant revenue growth through their business models [1][2] - IREN is well-positioned to benefit from the AI boom, transitioning from a crypto miner to an AI data center, securing major deals with tech giants [4][5] Group 2 - IREN has 810 megawatts of data center capacity and nearly 3 gigawatts of contracted power, which could translate into billions in revenue based on previous deals, with most power available by the end of 2027 [5] - Nebius has secured a 5-year, $17.4 billion deal with Microsoft, which can increase to $19.4 billion, providing Microsoft access to a 300 megawatt data center [6] - IREN expects significant growth in its cloud segment, projecting annual recurring cloud revenue between $200 million and $250 million by the end of the year, and over $500 million by Q1 2026 [7] Group 3 - Crypto stocks like IREN and Coinbase have outperformed Bitcoin year-to-date and are expected to benefit from long-term growth trends, as they have business models that extend beyond merely holding cryptocurrencies [8]

Core Insights - IREN Limited is rapidly expanding its AI cloud business, doubling its GPU capacity to 23,000 through a $674 million investment in additional GPUs [1][8] - The company anticipates achieving an annualized run-rate revenue of $500 million in AI Cloud by Q1 of fiscal 2026, with current contracts for 11,000 GPUs supporting $225 million in ARR [2][8] - IREN raised $979 million through a convertible note offering, indicating strong investor interest, and is projected to reach $1.25 billion in annualized revenues by December 2025, with significant contributions from both bitcoin mining and AI Cloud [3] Company Performance - IREN shares have surged 502.7% year-to-date, significantly outperforming the broader Zacks Finance sector and the Zacks Financial Miscellaneous Services industry [6][8] - The stock is currently trading at a price/cash flow multiple of 63.42X, which is considerably higher than the industry average of 19.22X [12] Competitive Landscape - IREN faces strong competition from Applied Digital and TeraWulf in the AI infrastructure sector, with Applied Digital benefiting from high demand for data center infrastructure and energy efficiency [4] - TeraWulf is expected to grow its revenue through its joint venture with Fluidstack, focusing on high-performance computing, with preliminary Q3 2025 revenues projected to show 84% year-over-year growth [5]

Core Insights - Applied Digital (APLD) and IREN Limited (IREN) are focusing on next-generation data center infrastructure for high-performance computing (HPC) and artificial intelligence (AI) workloads, addressing the growing demand for scalable computing solutions [1][2] - The global AI market is projected to reach $500 billion by 2027, driven by increased adoption across various sectors such as healthcare, finance, transportation, and manufacturing, which is favorable for both companies [1] Applied Digital (APLD) Highlights - APLD's HPC Hosting business is designed to support high-power density applications, with the Polaris Forge 1 facility set to scale up to 1 gigawatt (GW), with the first 100-MW facility operational by Q4 2025 [3] - APLD has secured a 15-year lease agreement with CoreWeave for 400 MW of critical IT load at Polaris Forge 1, with anticipated lease revenues of approximately $11 billion, indicating a strategic shift from cryptocurrency mining to AI-focused infrastructure [4] - The Zacks Consensus Estimate for APLD's fiscal 2026 revenues is $280.9 million, reflecting a growth of 30.4% from fiscal 2025 [5] - APLD's fiscal 2026 loss is estimated at 31 cents per share, an improvement from the previous estimate of 34 cents [11] IREN Limited Highlights - IREN is on track to achieve $1.25 billion in annualized revenues, with $200-$250 million expected from AI Cloud by December 2025, and plans to scale GPU installations significantly [6][7] - IREN has installed over 60,000 NVIDIA Blackwell GPUs and is transitioning from bitcoin mining to AI, with a new liquid-cooled data center planned [7] - IREN anticipates $500 million in AI Cloud annualized run-rate revenue by Q1 fiscal 2026 [7] - The Zacks Consensus Estimate for IREN's fiscal 2026 earnings is 70 cents per share, down 39.1% over the past 60 days [10] Stock Performance and Valuation - APLD shares have surged 49.7% in the past month, outperforming IREN's 33% gain, indicating stronger investor momentum for APLD [8][11] - Both APLD and IREN are considered overvalued, as indicated by a Value Score of F [14] Conclusion - APLD is expected to benefit from the CoreWeave partnership and the increasing demand for AI infrastructure, while IREN's growth is tempered by bitcoin price volatility and modest revenue growth prospects [15]

IREN Limited ( IREN ) failed to break through a psychological level of $70 per share a couple of weeks ago and it currently trades at $62. The current 13% short interest is quite high, but I think that the stockComing from an IT background, I have dived into the U.S. stock market seven years ago by managing portfolio of my family. Starting managing real money has been challenging for the first time, but long hours of mastering fundamental analysis of public companies paid off and now I feel very confident i ...

Group 1 - Crypto-related stocks experienced gains following positive signals from U.S.-China trade talks, with President Trump expressing optimism about a deal that would allow China to continue supplying rare-earth magnets to the U.S. in exchange for easing tariff threats [1][4] - Bitcoin surged to $116,200 before settling at $115,000, influenced by Treasury Secretary Scott Bessent's comments, with stocks like Robinhood (HOOD) rising by 5% and bitcoin miners such as Hut 8 (HUT) and CleanSpark (CLSK) increasing by 2%-3% [2][3] - American Bitcoin (ABTC), led by Eric Trump, announced the acquisition of 1,414 bitcoin, raising total holdings to 3,865, resulting in a 10.5% increase in its stock price [3] Group 2 - Traditional markets also saw gains, with the Nasdaq up by 1.5% and the S&P 500 increasing by 1%, while precious metals like gold and silver continued to decline, with gold down 3.2% and silver down 4.5% [3] - The upcoming Federal Reserve policy decision is anticipated to lower the benchmark interest rate by 25 basis points, which could lower borrowing costs and encourage risk-taking in cryptocurrencies and tech stocks [5]

Earnings are just around the corner for IREN Limited (NASDAQ: IREN ), and with analysts projecting quite a bit of growth, I thought it would be useful to break down the full portfolio ofI hold a Master’s degree in Cell Biology and began my career working for several years as a lab technician in a drug discovery clinic, where I gained extensive hands-on experience in cell culture, assay development, and therapeutic research. That scientific foundation gave me an appreciation for the rigor and challenges behi ...

Core Viewpoint - Bitcoin-related stocks experienced a significant increase, driven by the nomination of Michael Selig as the chairman of the Commodity Futures Trading Commission (CFTC), which is seen as a victory for the digital asset industry [1] Group 1: Stock Performance - Robinhood (HOOD.US) rose over 5.6% [1] - Bitmine Immersion Technologies (BMNR.US) increased by more than 5.7% [1] - SharpLink Gaming (SBET.US) saw a rise of over 5.5% [1] - MicroStrategy (MSTR.US) gained 2.6% [1] - Bitfarms (BIFT.US) increased by more than 1.5% [1] - Iren Ltd (IREN.US) rose over 3.4% [1] Group 2: Regulatory Developments - Michael Selig, currently the chief legal advisor for the CFTC's cryptocurrency working group, has been nominated to lead the CFTC [1] - The Trump administration is actively reshaping regulations for the digital asset industry through new legislation [1] - Selig's appointment is expected to accelerate regulatory processes, providing clearer guidance for cryptocurrency companies and investors seeking compliance [1]

Core Insights - The CoinShares Valkyrie Bitcoin Miners ETF (WGMI) experienced a pullback on October 10, reflecting broader market trends affecting risk assets, including cryptocurrencies and related equities [1] - Despite the pullback, some holdings within the ETF showed modest gains, and the recent tariff-induced decline may present a buying opportunity for investors, especially considering WGMI's impressive 116.43% gain over the preceding 90 days [2] - Wall Street analysts are increasingly optimistic about the non-crypto capabilities of WGMI's holdings, particularly in relation to the AI infrastructure boom, which could turn current market challenges into future opportunities [3] Company and Industry Analysis - Analyst Gautam Chhugani highlighted that cryptocurrency miners, including firms within WGMI, are becoming attractive partners for AI cloud providers, with IREN (IREN) identified as a top pick due to its significant power portfolio [4] - IREN's operations include a 3 gigawatt power portfolio, enabling growth in AI cloud services through options like building its own GPU cloud or leasing power to tech firms, while also maintaining profitable Bitcoin mining with a cost of approximately $36,000 per Bitcoin [5] - The demand for power from AI hyperscalers presents a unique opportunity for WGMI and its holdings, as the energy-intensive nature of cryptocurrency mining aligns well with the needs of AI companies, particularly given the anticipated shortages in data center capacity through 2026 [6]

Core Viewpoint - IREN Limited has been identified as one of the "12 most promising blockchain and cryptocurrency mining stocks" according to hedge fund assessments, with BTIG raising its target price from $32 to $75 while maintaining a "buy" rating [1] Group 1: Company Developments - IREN Limited has signed a multi-year cloud service contract with an AI company, involving the deployment of NVIDIA's Blackwell series GPUs, covering 11,000 out of 23,000 GPUs [1] - The contracts are expected to enhance IREN's GPU presence in data centers located in British Columbia, Canada, and Texas, USA, with a projected AI cloud service revenue of $225 million by the end of 2025 [1] Group 2: Market Trends - The demand for on-demand power from hyperscalers and new cloud service providers focused on artificial intelligence is increasing, positioning IREN to capitalize on high-performance computing (HPC) hosting opportunities [1]