Iris Energy (US:IREN) ZACKS·2025-10-08 19:15Core Insights - IREN Limited (IREN) shares experienced a significant increase of 6.8% to $61.68, with a notable trading volume and a total gain of 120.5% over the past four weeks [1][2] Company Overview - IREN's vertically integrated model allows full ownership of data centers, computing hardware, electrical infrastructure, and land, providing operational control, cost efficiency, and flexibility compared to competitors [2] - The company utilizes 100% renewable energy sources, enhancing sustainability and community support [2] Recent Developments - IREN announced multi-year cloud service contracts with leading AI firms for NVIDIA Blackwell GPU deployments, aiming to expand AI Cloud capacity [3] - The company has 23,000 GPUs in operation or on order, targeting over $500 million in annualized run-rate revenue (ARR) by Q1 2026, with contracts for 11,000 GPUs secured, valued at approximately $225 million ARR by the end of 2025 [3] Financial Performance Expectations - IREN is expected to report quarterly earnings of $0.17 per share, reflecting a year-over-year increase of 177.3%, with revenues projected at $236.71 million, up 335.2% from the previous year [4] - The consensus EPS estimate has been revised 18% lower over the last 30 days, indicating a potential negative trend in earnings estimate revisions [5] Industry Context - IREN Limited is part of the Zacks Financial - Miscellaneous Services industry, which includes other companies like SoFi Technologies, Inc. (SOFI) [6] - SOFI's consensus EPS estimate has increased by 1.7% over the past month, with a year-over-year change of 60%, and it currently holds a Zacks Rank of 2 (Buy) [7]