Demand for artificial intelligence (AI) is growing and creating massive opportunities for companies with the compute capacity to run training and inference workloads.
Iren (NASDAQ: IREN) has traditionally used its compute capacity to mine Bitcoin, but the company has pivoted from cryptocurrency mining to providing cloud services to help technology companies manage workloads.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
Iren is winding down its Bitcoin operations by the end of this year and leaning fully into managing AI workloads. With the stock trading down about 37% from its 52-week high, is now a good time to buy? Let's dive into the business and opportunity ahead to find out.
For years, Iren focused on mining Bitcoin using ASIC (custom integrated circuit chips built for a specific task rather than general computing) hardware. However, the company is undergoing a massive strategic shift, redirecting its computing infrastructure toward AI cloud services.

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