Is IREN a good stock to buy?
We came across a bullish thesis on IREN Limited on Stay Invested’s Substack by Denis Gorbunov
In this article, we will summarize the bulls’ thesis on IREN. IREN Limited’s share was trading at $49.48 as of May 4th. IREN’s trailing and forward P/E were 31.71 and 62.50 respectively according to Yahoo Finance.
Photo from Oracle website IREN Limited (IREN) is a vertically integrated data center operator positioned to benefit from both the AI infrastructure buildout and energy constraints shaping the industry. Unlike traditional data center companies, IREN combines ownership of large-scale facilities with access to predominantly renewable energy, including long-term contracts with BC Hydro in Canada and a 750 MW liquid-cooled campus in Texas. 15 AI Stocks That Are Quietly Making Investors Rich Undervalued AI Stock Poised For Massive Gains: 10000% Upside Potential This energy-first strategy provides a structural advantage as power availability becomes a bottleneck, with management highlighting a projected 44 GW supply shortfall over the next three years. Historically reliant on Bitcoin mining, which still accounted for over 90% of revenue as of Q2 2026, IREN is actively pivoting toward AI Cloud services, renting computing capacity to enterprises.