Overview
- Iren jumped 12.97% on Monday to close at $48.24, extending a two-day rally.
- The stock moved with a broader rebound in Bitcoin to near a six-week high around $95,000 and gains across other mining names.
- Goldman Sachs issued a neutral rating on Iren, describing the company’s valuation as relatively full.
- Iren holds a $9.7 billion, five-year Microsoft GPU cloud services contract that specifies supply of NVIDIA GB300 chips.
- The company has disclosed roughly 3 gigawatts of secured power for its data-center pipeline and separately agreed to buy GPUs and equipment from Dell for about $5.8 billion.