Iris Energy

IREN

Market cap $23.5B

Bitcoin prices fell this week after cryptocurrency treasury company Strategy revealed it sold a small amount of its bitcoin holding. Traders on prediction market Kalshi think it's likely that the cryptocurrency will fall below $60,000, which would mark a new low in 2026.

NEW YORK, June 03, 2026 (GLOBE NEWSWIRE) -- IREN Limited (NASDAQ: IREN) (“IREN”) today announced the signing of a transmission connection agreement to support a planned 800MW data center campus in Bundey, South Australia.

IREN raises its ARR target to $4.4 billion as a major Blackwell deployment supports expanded AI cloud capacity and growth plans.

If you're not familiar with the name Leopold Aschenbrenner, you should be.

NEW YORK, June 01, 2026 (GLOBE NEWSWIRE) -- IREN Limited (NASDAQ: IREN) (“IREN”) today announced it has closed a $3.65bn investment-grade GPU financing facility to support the delivery of its AI Cloud contract with Microsoft.

High fidelity simulation environment will help validate large NVIDIA GPU AI infrastructure before physical deployment NEW YORK, June 1, 2026 /PRNewswire/ -- BE Networks, a leading provider of networking and observability software solutions for AI datacenters today announced that it is working with IREN Limited (NASDAQ: IREN), a leading next-generation data center and AI cloud infrastructure company, to leverage NVIDIA DSX Air to simulate and validate the network architecture supporting IREN's upcoming deployment of more than 50,000 NVIDIA Blackwell Ultra GPUs . The initiative will enable IREN and BE Networks to utilize a production-representative digital twin of IREN's AI cloud environment before the physical infrastructure is deployed.

Iren is well positioned to capitalize on the AI boom, and its recent deal with Nvidia cements it as a top data center player. The terms of this strategic partnership are similar to the agreements Nvidia made with Nebius and CoreWeave.

As the artificial intelligence (AI) arms race hits a severe physical bottleneck, immediately available grid power has replaced raw silicon as the market's ultimate premium asset. The frantic demand for computing capacity has outstripped the electrical grid's ability to supply it, creating multi-year connectivity queues for new data center connections.

The AI trade is heating up just in time for summer, and as we enter the month of June, the SpaceX IPO could crank up the heat several notches as a flood of investors finally get a chance to own a piece of Elon Musk's space and AI empire.

Leopold Aschenbrenner, known as one of the youngest billionaires and a former member of the OpenAI research team, has just disclosed one of his largest stock positions yet.