IREN is forecast to report fourth-quarter revenue of $232.5 million on February 18, representing a year-over-year increase of 104.8%. Consensus estimates call for a loss of $0.08 per share, which if realized would still mark a 113.7% improvement in EPS compared with the year-ago period. Investors will be watching the mix between sustainable Bitcoin mining operations and the faster-growing AI cloud services segment, as management has highlighted data-center expansions in North America and Europe that underpin capacity for both workloads.

On January 13, HC Wainwright upgraded IREN from Sell to Buy and set an $80.00 price target—implying roughly 60% upside from current levels. The analyst noted IREN’s pivot into AI infrastructure, citing multi-year contracts with Microsoft and targets of $3.4 billion in annualized AI cloud revenue by the end of 2026. This upgrade follows BTIG’s October report that raised its price objective from $32.00 to $75.00 and reflects growing conviction in IREN’s ability to translate rapid mining-equipment deployment and favorable power-cost economics into profitable growth.

Institutional ownership of IREN stands at 41.1% of the float. In the third quarter, Allianz SE initiated a position valued at $57,000, while Global Retirement Partners added $25,000 worth of shares. Advisors Asset Management boosted its stake by 68.4%, acquiring an additional 1,839 shares for a total holding valued at $66,000. These moves come as average daily volume has climbed to roughly 38.5 million shares, reflecting heightened interest ahead of the company’s next earnings announcement.