IREN stock gained 14% on Friday after an impressive Q4 2025 earnings report, marking a 170% gain in 2025 and 284% over 12 months. It surged 20 spots to 16th on Barchart’s Top 100 Stocks list, with a promising outlook for further growth in 2026. Iren’s move into AI services adds to its appeal.

Iren’s revenue from mining Bitcoin skyrocketed from $7.54 million in fiscal 2021 to $484.63 million in fiscal 2025, with a 97% share from mining and 3% from AI Cloud Services. Gross profits exceeded $15 million in 2025, set to grow as it expands HPC capacity with Nvidia GPUs and targets $200-250 million AI Cloud revenue by December.

With an adjusted EBITDA of $269.7 million in 2025 and revenue projections of $1.11 billion in 2026, $1.31 billion in 2027, and $1.55 billion in 2028, Iren’s valuation could triple by 2027. Analysts expect robust EBITDA growth, yet potential multiple expansion could further boost the company’s value in the future.

Read more at Yahoo Finance: IREN Leaps 20 Spots Into the Top 20