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Bitcoin Rally Boosts IREN Stock as AI Business Soars

Guavy AI Editorial Team
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Bitcoin's rally to nearly $69,000 has sent IREN stock soaring, as its expanding AI business and exposure to crypto mining contribute to its growth.

The company recently raised its 2026 AI Cloud annualized revenue target above $4 billion, a significant increase from the previous forecast of $3.7 billion.

IREN's reliance on Bitcoin mining operations remains substantial, with those activities generating $112 million in revenue last time around, significantly more than the $33.6 million brought in by AI cloud services.

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