Is Iren Stock a Buy Now?

Demand for artificial intelligence (AI) is growing and creating massive opportunities for companies with the compute capacity to run training and inference workloads.

Iren (NASDAQ: IREN) has traditionally used its compute capacity to mine Bitcoin, but the company has pivoted from cryptocurrency mining to providing cloud services to help technology companies manage workloads.

Iren is winding down its Bitcoin operations by the end of this year and leaning fully into managing AI workloads. With the stock trading down about 37% from its 52-week high, is now a good time to buy? Let's dive into the business and opportunity ahead to find out.

Continue reading