IREN plans $25B-$30B in CapEx for its AI cloud expansion, backed by $14B in existing funding and a push for more GPU financing and prepayments.
I am reiterating my Strong Buy rating on IREN Limited and raising my price target to $52 per share following Q4 2026 results. IREN's entire $4 billion 2026 ARR target is now contracted, with demand risk shifting to execution and delivery of Horizon 2–4 capacity. Recent contract economics have improved, with 3-year deals above $20 million per IT MW and a broader AI customer base supporting higher monetization.
IREN Limited IREN and Cipher Digital Inc. CIFR started from the same advantage — access to large amounts of power built for Bitcoin mining. The infrastructure has become more valuable as AI developers and hyperscalers compete for data center capacity, turning both companies into increasingly direct plays on the shortage of powered sites.
| Name | Quantity | Cost | Value | Profit ($) | Gain (%) |
|---|---|---|---|---|---|
Timothy M. Bidwell Hazlett, BURT & WATSON Inc. | 600 | $20,568 | $22,080 | $1,512 | 7.35% |
Curtis Ellergodt Rothschild Investment LLC | 20 | $939 | $795 | -$144 | -15.34% |
| BZ Brandon Zatopek Commonwealth Equity Services LLC | 122,511 | $5.6M | $5.05M | -$551,296.47 | -9.84% |
| ABB Alexander Bjornager Bonde Danske Bank A/S | 134,400 | $4.61M | $5.54M | $935,424 | 20.3% |
| JD Jim Dushek HARBOUR INVESTMENTS Inc. | 2,557 | $96,577.89 | $101,640.75 | $5,062.86 | 5.24% |
| Name | Quantity | Cost | Value | Profit ($) | Gain (%) |
|---|---|---|---|---|---|
Gregory Lewis BTIG | 1,280.05 | $47,131.46 | $47,509.07 | $377.61 | 0.8% |
Paul Meeks Freedom Capital Markets | 1,214.58 | $53,332.21 | $41,210.7 | -$12,121.51 | -22.73% |
| Capital Markets Industry | Financials Sector | William Roberts CEO | NASDAQ (NGS) Exchange | Q4982L109 CUSIP |
| AU Country | 257 Employees | - Last Dividend | - Last Split | 17 Nov 2021 IPO Date |
Iris Energy Limited, founded in 2018, is a pioneering company specialized in the operation and ownership of bitcoin mining data centers. Situated in Sydney, Australia, it has carved a niche for itself in the rapidly evolving cryptocurrency sector. The firm focuses on leveraging cutting-edge technology to sustainably mine bitcoin, positioning itself as a leader in the innovative intersection of blockchain technology and renewable energy.
Iris Energy Limited operates state-of-the-art bitcoin mining facilities. These data centers are designed to harness renewable energy sources, ensuring an environmentally friendly approach to bitcoin mining. By optimizing energy consumption and utilizing advanced cooling technologies, Iris Energy aims to achieve high efficiency and sustainability in its mining operations.