Bitcoin Miner IREN Climbs 9% on New Long-Term AI Cloud Contracts

AI and high-performance computing (HPC) stocks extended their recent rally, with IREN (IREN), Bitfarms (BITF), and Hive Digital (HIVE) leading gains amid rising demand for GPUs and cloud services.

IREN shares surged following the announcement of new multi-year AI cloud service contracts with top AI companies for NVIDIA Blackwell GPU deployments. The company is on track to surpass $500 million in annualized run-rate revenue (ARR) by the end of Q1 2026, fueled by 23,000 GPUs either in operation or on order.

Contracts covering 11,000 GPUs alone are expected to contribute roughly $225 million in ARR by year-end 2025. With average two-year contract terms and accelerated revenue payback periods, IREN is expanding rapidly across its British Columbia campuses and Horizon 1 and 2 data centers in Texas — facilities capable of hosting over 100,000 GPUs supported by 2,910 MW of secured power capacity.

Co-Founder Daniel Roberts commented, “Our ability to quickly transition from ASICs to GPUs across British Columbia and scale Horizon 1 & 2 demonstrates that IREN is uniquely positioned to meet accelerating demand for AI compute.”

Miners Continue Momentum
The broader AI and HPC rally carried into early U.S. trading. Bitfarms climbed 12% after a 15% gain on Monday, while Hive Digital added 10% following a 25% surge in the previous session, signaling strong investor interest in GPU-focused miners.

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