IREN Limited (IREN), formerly known as Iris Energy, has shifted its focus from Bitcoin mining to the data center market. The company’s strategic collaboration with Microsoft for AI cloud services has boosted its stock by 11.5%. IREN’s data center segment has driven a 258.9% rally in the past year, with projections of a 195% climb in the next 12 months. IREN also mines Bitcoin and has seen its shares surge 393.4% YTD. The company’s Q1 fiscal 2026 results showed rapid expansion, with revenue reaching $240.3 million, a 355.4% increase YOY. Analysts maintain a “Moderate Buy” rating on IREN, with a potential 180.5% upside target.

Read more at Yahoo Finance: This Data Center Stock Could Gain Nearly 195% Over the Next 12 Months. Is It a Buy Here?