IREN climbs after signing cloud services contracts for Nvidia GPUs

IREN

07/10/2025 12:54

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** Bitcoin miner IREN IREN.O rises 8% to $62.33 premarket

** IREN signs new multi-year cloud services contracts with leading AI companies for Nvidia NVDA.O Blackwell graphics processing unit deployments

** Co is on track to achieve over $500 mln in annualized run-rate revenue (ARR) from its GPU operations by Q1 2026

** IREN has already secured contracts for 11,000 of its planned 23,000 GPUs, representing about $225 mln in ARR, with full deployment expected by the end of 2025

** Co secured Nvidia's preferred partner status in August this year

** 10 of 13 analysts covering IREN rate stock "strong buy" or "buy", two "hold" and one "sell"; median PT is $42 - data compiled by LSEG

** Through Monday's close, stock up 488% YTD

 (Reporting by Ragini Mathur in Bengaluru)

 ((Ragini.Mathur@thomsonreuters.com;))