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Sep 24, 2025 4:00 PM

IREN Stock Gains 510%—Is More Upside Possible?

IREN Limited (NASDAQ:IREN) shares have skyrocketed an extraordinary 510% over the past six months, prompting investors to ask whether there is still more upside ahead. 

IREN stock is rallying. See the real-time price action here. 

IREN's Dual-Engine Business Model 

IREN's massive rally has been fueled by its dual-engine business model: Bitcoin (CRYPTO: BTC) mining operations and a rapid expansion into AI cloud infrastructure. 

The company mined 1,825 bitcoins in the most recent quarter, supporting a near 30% sequential revenue jump and showcasing its operational efficiency.

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But the real narrative shift is IREN's aggressive pivot to AI hosting and cloud services. 

On Monday, IREN announced that it had doubled its AI cloud ...