Well, butter my bitmap, if it isn’t IREN Ltd., the plucky little company that once dug for digital gold in the mines of Bitcoin, now soaring like a wizard on a broomstick after its shares jumped 3.93% on a Wednesday morning. Why? Oh, just a little thing called a “long-term agreement” with some AI bigwigs, swapping pickaxes for NVIDIA Blackwell GPUs. Turns out, artificial intelligence is the new black, darling. 💡✨
Of course, the stock market being the fickle beast it is, IREN’s shares opened at $59.07 in pre-market trading, a tad down from Wednesday’s close of $57.75. But fear not, for by the time the sun was properly up, the stock was gaining momentum faster than a troll learning to use a smartphone. Over the past five days, the share price has wobbled between $46.60 and $61.01, because consistency is for boring people. 📈💸
This year, IREN has decided that mining Bitcoin-which, let’s face it, uses more energy than a dragon with a caffeine addiction-is so last season. Instead, they’re pivoting to AI computing, the shiny new toy everyone wants. With a market cap of 16.78 billion, they’ve seen their price swing from a low of $5.13 to a high of $58.28 in the past 52 weeks. Crypto and tech prices? More unpredictable than a dwarf with a grudge. 🧙♂️⚡
IREN’s $500M GPU Gambit: Because Why Not?
According to the deal, IREN is set to rake in over $500 million in annual revenue from its 23,000 GPUs by the end of Q1 2026. That’s right, 23,000. Enough processing power to render a lifelike image of a Nac Mac Feegle having a bad day. So far, they’ve locked in deals for 11,000 of these bad boys, bringing in $225 million annually, with contracts fully active by the end of 2025. Because who needs sleep when you have GPUs? 🤖💰
This all comes after IREN dropped $674 million on 12,400 new graphics processors in 2025, becoming NVIDIA’s top partner in August. Yes, they’re basically the cool kid at the tech prom now. And let’s be honest, with AI being the belle of the ball, IREN’s got the best date. Just don’t let the Bitcoin miners see them slow-dancing with GPUs-it might hurt their feelings. 💃🕺
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2025-10-08 16:37