On January 12, 2026, Iren announced a strategic shift that has captured the attention of investors and analysts alike. The Bitcoin-linked data center operator has pivoted toward high-performance AI computing, fueled by a significant partnership with Microsoft.
Iren’s Market Activity
Today, Iren’s stock experienced a notable increase of 5.21%, closing at $50.33. This uptick followed a robust trading session where the company saw a volume of 52 million shares, surpassing the three-month average by 37%. Investors have shown renewed interest in Iren, especially in light of its transition towards AI infrastructure.
- Current Price: $50.33
- Market Cap: $16 billion
- Day’s Range: $49.82 – $52.97
- 52 Week Range: $5.13 – $76.87
- Volume: 1.4 million
- Average Volume: 38 million
- Gross Margin: 31.17%
Shift to AI Computing
Iren, which initially focused on Bitcoin mining, is now redirecting its resources toward high-performance AI computing solutions. This shift is partly driven by a lucrative AI cloud contract with Microsoft, valued at nearly $10 billion. This partnership highlights the growing intersection between cryptocurrency mining and AI capabilities.
Market Trends
The broader market is reflecting a positive sentiment, with the S&P 500 rising by 0.15% and the Nasdaq Composite increasing by 0.26%. Other companies in the capital markets, such as Mara Holdings and Riot Platforms, also posted gains of 4.21% and 7.38%, respectively. This trend indicates a collective optimism surrounding crypto and AI sectors.
Future Outlook for Investors
With its transition towards AI, Iren aims to capitalize on the rising demand for compute capacity. The consistent revenue generated from its traditional crypto-mining operations is providing the company with the necessary resources to expand its AI initiatives. Bernstein analyst Gautam Chhugani recently named Iren as his top AI stock pick for 2026, reinforcing investor confidence in the company’s potential for growth.
As Iren continues to seek capital to enhance its compute capacity, more partnerships and contracts may emerge, positioning the company favorably in the evolving tech landscape.
