Iren’s pivot from Bitcoin mining to Microsoft-backed AI infrastructure is redefining its long-term narrative, today, Feb. 6, 2026.
Today’s Change
(5.13%) $2.04
Current Price
$41.83
Key Data Points
Market Cap
$13B
Day’s Range
$36.52 – $44.22
52wk Range
$5.13 – $76.87
Volume
75M
Avg Vol
40M
Gross Margin
31.17%
Iren (IREN +5.13%), a vertically integrated data center operator originally focusing on Bitcoin (BTC +11.02%) mining, closed Friday at $41.83, up 5.13%. The stock rebounded as investors reassessed a Q2 earnings miss, but today’s gains still didn’t make up for losses earlier in the week. Investors are still concerned about Iren’s AI data center pivot and are watching execution on the Microsoft-backed cloud expansion and power build-out next.
Trading volume reached 74.3 million shares, coming in about 84% above its three-month average of 40.5 million shares. Iren IPO’d in 2021 and has grown 71% since going public.
How the markets moved today
The S&P 500 (^GSPC +1.97%) added 1.97% to finish Friday at 6,932, while the Nasdaq Composite (^IXIC +2.18%) climbed 2.18% to close at 23,031. Within cryptocurrency mining, industry peers Mara Holdings (MARA +22.44%) closed at $8.24 (up 22.44%) and Riot Platforms (RIOT +19.65%) finished at $14.45 (up 19.82%) as traders leaned back into high-beta miners.
What this means for investors
Iren still ended the week 22% below last Friday’s closing price. Analyst commentary cited disappointment that another AI deal wasn’t announced by the Bitcoin miner turned AI cloud company.
News from the company that 95% of the financing needed to support its large Microsoft (MSFT +2.00%) contract is in place wasn’t enough to satisfy investors. The fact that those funds included a $1.9 billion prepayment from the tech giant may be part of the reason.
The lack of any new AI deals could signal a slowdown in AI cloud ramp. That, along with execution risk, had some investors staying away from Iren stock this week.
Howard Smith has positions in Microsoft. The Motley Fool has positions in and recommends Bitcoin and Microsoft. The Motley Fool has a disclosure policy.