Iren is running toward a technical breakout level and away from its former life of a bitcoin mining operation. The transformational story from a crypto miner to an AI infrastructure is real, helped with AI cloud services revenues that nearly doubled from $17.3 million to $33.64 million in the fiscal third quarter. The company has a long way to go to clean up their messy financials, but a partnership announced with Nvidia for a five-year AI cloud contract to deploy Blackwell GPUs across 60 megawatts of capacity in Texas will certainly help. According to Q3 earnings filing, “issued to NVIDIA a 5-year right to purchase up to 30 million shares of ordinary stock at an exercise price of $70 per share, resulting in a right to invest up to…
