Iris Energy (IREN) has released an update.
Discover the Best Stocks and Maximize Your Portfolio:
- See what stocks are receiving strong buy ratings from top-rated analysts.
- Filter, analyze, and streamline your search for investment opportunities with TipRanks’ Stock Screener.
Iris Energy Limited has expanded its AI Cloud Services by purchasing 1,080 NVIDIA H200 GPUs, projecting an increase in this segment’s contribution to nearly 10% of their earnings by the end of 2024. The company is also on track to boost its Bitcoin mining capacity, aiming to reach 30 EH/s by the fourth quarter of 2024. This strategic investment aligns with their growth plan, which anticipates a continued rise in AI Cloud Services revenue through 2025.
For further insights into IREN stock, check out TipRanks’ Stock Analysis page.
