IREN: A Renewable-Powered Data Center Play Positioned for the AI Supercycle

Company Overview - IREN Limited is a vertically-integrated data-center operator that has transitioned from a crypto mining business to high-performance computing (HPC) workloads necessary for AI models like ChatGPT and Alphabet's Gemini [1] - The company operates mainly in North America and distinguishes itself by powering its data centers with 100% renewable energy, offering services such as AI Cloud, GPU clusters, colocation, and build-to-suit infrastructure for scalable compute [1] Industry Insights - The data center business is experiencing significant growth, with operating data center capacity tripling to 810 MW in FY25 [2] - IREN is well-positioned to address the energy challenges faced by the AI revolution, as its renewable energy solutions provide lower costs and better margins compared to traditional energy sources [2] Financial Performance - IREN is expected to see explosive triple-digit growth in both sales and earnings per share (EPS) [8] - Zacks Consensus Estimates for sales indicate a current quarter estimate of $229.14 million, with year-over-year growth estimated at 321.30% [9] - EPS estimates show a significant year-over-year growth of 1,425,00% for the current year, with a consensus estimate of $0.61 [10] Stock Performance - IREN shares are breaking out of a high tight flag pattern, which often signals potential for further upside [4] - The stock has shown bullish relative strength trends, increasing more than 6% in early trading [7] Upcoming Events - IREN is scheduled to report earnings on November 6, with an implied post-earnings move of +/- 12.2% [11]