IREN (NasdaqGS:IREN) drew fresh attention after filing a US$660.975m shelf registration covering 17,500,000 ordinary shares tied to its 2025 Omnibus Incentive Plan, alongside progress on its US$9.7b Microsoft AI cloud contract.
See our latest analysis for IREN.
The 13.05% 1 day share price return to US$42.70 comes after a tough few months, with a 90 day share price return of a 30.77% decline. At the same time, the 1 year total shareholder return of 262.79% and the very large 3 year total shareholder return show how strongly sentiment has swung around this high beta mix of bitcoin mining and AI infrastructure, as investors weigh growth potential against dilution risk and higher short interest.
If IREN’s AI and crypto mix has grabbed your attention, it could be a good moment to scan other high growth tech and AI names through high growth tech and AI stocks for fresh ideas.
With a 1 year total return above 260%, fresh short interest near 15% and a large Microsoft AI contract in play, you have to ask yourself: is IREN still mispriced, or is the market already baking in years of future growth?
According to BlackGoat, the narrative fair value of US$94.84 sits well above IREN’s last close at US$42.70. This frames a sizable upside gap before you even factor in its Microsoft contract and AI expansion plans.
IREN represents an intriguing yet risky investment opportunity in the evolving landscape of Bitcoin mining and computational services. With its leading efficiency, strategic diversification into HPC and AI, and strong financial footing, IREN is well-positioned to capitalise on future growth opportunities.
What earnings ramp justifies that gap? The narrative leans on rapid revenue expansion, rising profit margins and a premium future P/E usually reserved for high growth software names. Curious which assumptions really drive that US$94.84 figure and 55% discount call?
Result: Fair Value of $94.84 (UNDERVALUED)
Have a read of the narrative in full and understand what’s behind the forecasts.
However, that upside story can break quickly if Bitcoin prices weaken, or if further equity raises and dilution blunt the impact of any future earnings ramp investors are expecting.
Find out about the key risks to this IREN narrative.
If you are not fully on board with this view or just prefer to weigh the numbers yourself, you can build a custom thesis in minutes with Do it your way
A great starting point for your IREN research is our analysis highlighting 4 key rewards and 3 important warning signs that could impact your investment decision.
If you are serious about building a stronger watchlist, do not stop at one stock. Use targeted screeners to surface fresh ideas that match your style.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include IREN.
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