IREN Ltd (NASDAQ:IREN) stock moved higher on Thursday, a day after the stock fell 13.62%. Nasdaq futures are up 1.69% while S&P 500 futures have gained 0.67%.
Co-CEO Addresses Investors
Daniel Roberts, co-founder and co-CEO of IREN, said in a post on X on Thursday that the company has spent the past eight years building a portfolio of powered land in anticipation of growing demand for computing infrastructure. He said demand for IREN’s capacity currently exceeds what the company can build, with 85% of its more than $4 billion 2026 target already under contract. Roberts added that construction is actively underway across the company’s sites, with teams continuing to expand GPU infrastructure.
Recent Company Announcements
On Jul. 20, IREN signed $2.8 billion in new customer contracts with AI developers and raised its 2026 Annual Recurring Revenue target to over $4 billion. The company also appointed Eric Hammersley as Chief Information Security Officer on July 15.
IREN operates data centers powered by renewable energy in Canada and the U.S. for bitcoin mining and AI cloud infrastructure.
Financial Snapshot
For the quarter ended March 31, IREN reported cash and cash equivalents of $2.213 billion and total assets of $7.265 billion. The company’s market capitalization stands at $10.475 billion.
IREN Stock: Key Levels and Momentum Indicators
IREN is still in a longer-term reset despite the premarket bounce: at $31.97, the stock is trading 16.8% below its 20-day SMA ($38.80) and 34.8% below its 50-day SMA ($49.57), which keeps the intermediate trend pointed down. It’s also 33.2% below its 200-day SMA ($48.34), showing how much ground it would need to recover to get back into a sustained uptrend.
The bigger-picture backdrop is mixed because the stock logged a golden cross in May (50-day SMA above the 200-day SMA), but price has since slipped well under those longer averages, undercutting that bullish signal. The chart’s recent turning points reinforce the chop: a swing high formed in June, a swing low followed in July, and the stock broke below support in July—often a sign that prior buyers are now potential sellers on rebounds.
IREN Stock Price Activity: Iren shares were up 9.11% at $31.98 during premarket trading on Thursday, according to Benzinga Pro data.
Photo: Tigarto / Shutterstock.com
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