Iris Energy Is Sitting on $7.6 Billion in Cash and Building One of the Largest AI Data Centers in the World. Is IREN Stock a Buy?

Iris Energy Is Sitting on $7.6 Billion in Cash and Building One of the Largest AI Data Centers in the World. Is IREN Stock a Buy? ©WiR_Pixs from pixabay, SUMALI IBNU CHAMID from Alemedia.id via Canva Key Stats for IREN Limited 52-Week Range: $28.93 to $76.87 Street Mean Target: $80.21 5-Yr Beta: 4.28 LTM Gross Margin: 68.9% Market Cap: ~$18.4 billion From Bitcoin Miner to AI Infrastructure Company Iris Energy (IREN) came out of the gate as a Bitcoin miner with a specific angle: run the operation entirely on renewable energy, starting with cheap hydroelectric power in British Columbia before expanding into Texas.