He Bought Bitcoin Mining Stocks Days Before a 250% Surge – Lucky Or Shady?

Core Insights - Louisiana Representative Cleo Fields has faced scrutiny for timely stock trades, particularly in Bitcoin mining company IREN and Oracle, which have seen significant price increases following his purchases [2][4][6]. Group 1: IREN Stock Performance - Fields purchased between $15,001 and $50,000 worth of IREN stock on July 10, leading to a stock price increase of nearly 233% since then [2][3]. - IREN is expanding its operations to provide high-performance computing power for artificial intelligence and has secured Nvidia Preferred Partner Status, allowing priority access to high-demand GPUs [3][4]. - The company aims to double its GPU capacity to 23,000 units by early 2026, targeting over $500 million in annual revenue [4]. Group 2: Oracle Stock Performance - Fields invested between $80,000 and $200,000 in Oracle stock just before the announcement that Oracle would oversee TikTok's US algorithm, which led to a 3% increase in Oracle's stock price shortly after [7]. - The timing of Fields' investments has raised concerns about potential insider trading, given his position on the House Committee on Financial Services [4][6].