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Upturn AI Summary - About
IREN Ltd(IREN)
Advisory History & Simulated Performance *
*as per simulation (see disclosures)- ALL
- 1Y
- 1M
- 1W
- BUY Advisory
- SELL Advisory (Profit)
- SELL Advisory (Loss)
- Profit
- Loss
- PASS (Skip)
Stock price based on last close Advisory Performance History (Simulated)
Upturn Advisory & Investor View for IREN
10/28/2026: IREN (3-star) is currently NOT-A-BUY. Pass it for now.
IREN Ltd is a technology company focused on building and operating high-performance data centers powered by renewable energy, serving both the Bitcoin mining and generative AI markets. Its primary strengths lie in its vertically integrated infrastructure and access to low-cost, sustainable power, which helps manage operating expenses. The investment story centers on the company’s ability to pivot from pure-play crypto mining toward high-demand AI compute services. However, investors must consider risks including high price volatility, significant capital intensity, and intense competition in both hardware and energy sectors. The stock may best suit growth-oriented investors who can tolerate market fluctuations, with a need to monitor hardware procurement progress and energy capacity milestones.
How to Read the Upturn Advisory
The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.
Company fundamentals, valuation, risks, and news provide supporting context about the business.
Investor Fit
| Investor style | Fit | Why |
|---|---|---|
| Growth investor | Strong fit | The company provides leveraged exposure to both Bitcoin and the secular growth of AI infrastructure. |
| Momentum investor | Strong fit while signal remains positive | The stock often reacts aggressively to positive news in the Bitcoin price or AI hardware sector. |
| Value investor | Weak fit | The valuation is often based on future capacity expansion rather than current discounted cash flows. |
| Dividend investor | Weak fit | The company does not pay dividends and prioritizes capital reinvestment. |
| Low-risk investor | Weak fit | The business model entails high operational, regulatory, and commodity price risks. |
Risk Profile
| Risk factor | Level | Why it matters |
|---|---|---|
| Price volatility | High | The stock price is highly correlated with the volatile price of Bitcoin. |
| Valuation risk | High | Market sentiment often drives prices far above fundamental book value. |
| Competition risk (AI/Mining hardware) | Medium / high | Maintaining technological parity in ASIC and GPU hardware is cost-intensive. |
| Business quality | Medium | While the infrastructure is modern, revenue streams remain tied to commodity prices. |
| Dividend income | Low / none | There is no current expectation of income generation for shareholders. |
| Execution risk | Medium | Successfully deploying large-scale AI compute facilities involves complex supply chain and power management. |
Price Behavior
Downtrend
The stock has experienced a sustained decline in price over recent periods.
Extreme Price Shocks
The stock has experienced exceptionally large and disruptive price movements during the period.
Analysis of Past Performance
Type Stock | Historic Profit 568.45% | Avg. Invested days 27 | Today’s Advisory PASS |
Upturn Advisory Rating  | Upturn Advisory Performance  3.0 | Stock Returns Performance  5.0 |
| Profits based on simulation | Last Close 10/28/2026 |
Upturn Scorecard
Upturn Star Rating 
Company Fundamentals
Financial Health Rating
Growth Momentum Score
Ownership
Top 5 Institutional Investors
Unit Economics (Per $1K Revenue)
Economic Dimensions
Quantitative Style Profile
Style Classification
Quality Focused
Key Highlights
Company Size Large-Cap Stock | Market Capitalization 11.10B USD | Price to earnings Ratio - | 1Y Target Price 77.81 |
Price to earnings Ratio - | 1Y Target Price 77.81 | ||
Volume (30-day avg) 48.4M shares | Beta 4.27 | 52 Weeks Range 23.72 - 76.87 | Updated Date 10/28/2026 |
52 Weeks Range 23.72 - 76.87 | Updated Date 10/28/2026 | ||
Dividends yield (FY) - | Basic EPS (TTM) -2.22 |
How Company Makes Money
| Business area | What it includes | Retail investor read |
|---|---|---|
| Bitcoin Mining | Mining revenue generated from operating ASIC miners in dedicated facilities. | Profitability depends largely on the market price of Bitcoin minus the cost of electricity and hardware. |
| HPC / AI Cloud Services | Leasing GPU compute power to external clients for AI training and inference. | This is a newer, high-growth area that targets the enterprise AI market to diversify from pure crypto mining. |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Valuation
Trailing PE - | Forward PE 136.99 | Enterprise Value 12.76B | Price to Sales(TTM) 15.7 |
Enterprise Value 12.76B | Price to Sales(TTM) 15.7 | ||
Enterprise Value to Revenue 16.92 | Enterprise Value to EBITDA 28.06 | Shares Outstanding 404.61M | Shares Floating 385.78M |
Shares Outstanding 404.61M | Shares Floating 385.78M | ||
Percent Insiders 6.52 | Percent Institutions 62.28 |
Financial Metrics
🧭 Investment Snapshot
Total Revenue (Scale)
Total money earned from selling products or services before any costs. It is needed to understand the scale of the business and its ability to generate income.
Net Income (Profit)
Final profit after all expenses, interest, and taxes are deducted. It is needed to determine the overall profitability available to shareholders.
Free Cash Flow (Cash Strength)
Cash remaining after operating activities and capital expenditures, showing cash available for growth. It is needed to evaluate the company’s ability to invest, pay dividends, or reduce debt.
📈 Growth & Strength
Operating Income (Core Profit)
Profit from core operations after deducting all operating expenses. It is needed to measure how efficiently the company runs its primary business activities.
EBITDA (Cash Earnings)
Earnings before interest, taxes, depreciation, and amortization, indicating operating cash potential. It is needed to compare operating performance across companies without accounting or financing differences.
Gross Profit (Unit Profitability)
Revenue minus cost of revenue, showing profit after direct production costs. It is needed to evaluate core business profitability before overhead expenses.
🛡️ Financial Safety
Cash (Liquidity Buffer)
Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.
Total Debt (Leverage Risk)
Total debt including both short-term and long-term components. It is needed to assess the company’s leverage and financial risk.
Net Working Capital (Short-Term Health)
Current assets minus current liabilities, indicating short-term liquidity strength. It is needed to assess whether the company can meet its short-term obligations.
🧱 Balance Sheet Strength
Stockholder Equity (Net Worth)
Total equity value held by shareholders. It is needed to understand the net worth of the company from the owners’ perspective.
Total Assets (Asset Base)
The full value of everything the company owns, including cash, inventory, equipment, and investments. It is needed to understand the resource base used to generate revenue.
Income Before Tax (Pre-Tax Earnings)
Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.
⚙️ Cost & Drag Factors
Cost of Revenue (Production Cost)
Direct costs required to produce and deliver the products or services sold. It is needed to assess efficiency in production and service delivery.
Total Operating Expenses (Operating Cost)
Indirect costs of running the business such as salaries, marketing, and administration. It is needed to understand how much it costs to sustain ongoing business operations.
Income Tax Expense (Tax Drag)
Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.
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