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IREN shifts focus from Bitcoin mining to AI with $1.3B quarterly capex and Nvidia backing.

Company Fundamentals
08 May 2026
Seeking Alpha
View Source
Bullish
pluang ai news

IREN Limited is rapidly expanding its data center infrastructure, moving away from Bitcoin mining toward AI-driven growth. The company supports its aggressive $1.3 billion quarterly capital expenditure with $2.2 billion in cash and advance payments, though convertible debt poses some dilution risk. Nvidia's option to buy up to 30 million shares at $70 reflects strong confidence in IREN's infrastructure value. Additionally, IREN's acquisition of Mirantis enhances its software capabilities, key for long-term differentiation as GPU commoditization increases.

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