Why Iren Stock Topped the Market on Thursday

Iren (NASDAQ: IREN), one of a clutch of cryptocurrency miners attempting to lean more heavily on data center operations, was a stock market winner on Thursday. The company reported news that indicated the strategy is a viable one, and investors rewarded the stock by pushing it almost 3% higher that trading session. This compared favorably to the S&P 500 index's 0.7% gain.That morning, Iren announced that it had delivered a chunk of artificial intelligence (AI) compute to Microsoft. Horizon 1, a 50-megawatt deployment at Iren's campus in Childress, Texas, is the first stage of a five-year cloud services contract between the two companies worth $9.7 billion. It consists of four stages. Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool