The mean of analysts' price targets for IREN Limited (IREN) points to a 25% upside in the stock. While this highly sought-after metric has not proven reasonably effective, strong agreement among analysts in raising earnings estimates does indicate an upside in the stock.
IREN generated $148 million in Q3 revenue, supported by 326% YoY hashrate growth and disciplined cost controls that expanded EBITDA margin to 56%. AI Cloud now operates 1,896 Nvidia GPUs near full utilization, generating a $28 million run-rate with 97% hardware gross margins. The company controls 2.9GW of contracted power and 1,800 acres in Texas, enabling hyperscaler-grade liquid-cooled data center expansion.
Does IREN Limited (IREN) have what it takes to be a top stock pick for momentum investors? Let's find out.
Momentum investors have a lot to dig through after an explosive tech-led surge from those now-distant Liberation Day lows.
Key Points in This Article: IREN's (IREN) Q3 revenue surged 172% to a record $148.1 million, with a $24.2 million profit, driven by efficient Bitcoin mining and a 98% margin AI cloud segment.
IREN (NASDAQ:IREN) – a Bitcoin mining data center operator that utilizes renewable energy sources such as solar and wind – has witnessed an impressive stock increase of nearly 80% over the last month. This notable rise can be linked to several recent positive events:
IREN combines massive renewable-powered Bitcoin mining with a fast-growing AI cloud business, leveraging low-cost hydro and wind energy for industry-leading margins. The company's strategic shift to AI compute, capped Bitcoin expansion, and disciplined capital allocation create a dual-engine growth profile with significant upside potential. Strong financials—high EBITDA margins, no debt, and robust cash flow—support continued expansion and highlight a valuation discount versus peers despite superior fundamentals.
IREN mined 1,514 Bitcoin in Q3 FY25, generating $141.2 million revenue at an average realized price of $93K per coin. All-in cash cost per Bitcoin mined was approximately $41K, supporting strong hardware margins with low-cost renewable power in Texas and Canada. AI Cloud Services posted $3.6 million revenue in Q3 with 97% hardware gross margin and a $28–33 million annualized run-rate.
I am bullish on IREN due to its industry-leading bitcoin mining efficiency and ability to maintain low production costs amid rising competition and energy prices. IREN's strategic diversification into AI cloud services and HPC solutions positions it for resilient growth beyond bitcoin mining, capitalizing on higher CAGR opportunities in AI. Financially, IREN boasts strong revenue growth, robust liquidity, and a manageable debt profile, supporting continued expansion and operational flexibility.
IREN Limited (NASDAQ:IREN ) Q3 2025 Earnings Conference Call May 14, 2025 5:00 PM ET Company Participants Mike Power - Director of Investor Relations Daniel Roberts - Co-Founder and Co-Chief Executive Officer Kent Draper - Chief Commercial Officer Belinda Nucifora - Chief Financial Officer Conference Call Participants Nick Giles - B. Riley Securities, Inc. Reginald Smith - JPMorgan Chase & Co. Darren Aftahi - ROTH Capital Partners Operator Good day, and thank you for standing by.
IREN Limited's third-quarter fiscal 2025 results benefit from higher bitcoin revenues.
Diving into two beaten-down technology stocks that offer long-term exposure to artificial intelligence expansion.