IREN Limited (IREN)'s Shares Have Nearly Doubled This Year. Here Is What You Need To Know

IREN Limited (NASDAQ:IREN) is among the 12 Best Australian Stocks to Buy Right Now. The stock has had a stellar 2025, with year-to-date gains of 94%, as of the close of business on August 14.

The wave has been fueled by impressive financial performance. IREN Limited (NASDAQ:IREN) in May posted a record revenue of $148.1 million during the third quarter of fiscal 2025, along with a 28% sequential increase in profit after tax. The robust results were driven by the company’s focus on large-scale data center sites, which are driving strong growth and margins.

The momentum has continued with the recent announcement of record monthly revenue and hardware profit for July, with a 17% increase in bitcoins mined and upgrades in AI cloud, bolstering bullish sentiment.

Expansion projects have also thrilled investors, such as the $130 million purchase of 2.4k next-generation Blackwell B200 and B300 GPUs from NVIDIA last month.

IREN Limited (NASDAQ:IREN) owns and operates data centers powering the future of Bitcoin and artificial intelligence using renewable energy. Wall Street analysts maintain a positive outlook for the stock, with a consensus Buy rating and an average share price upside potential of 16.8%.

While we acknowledge the potential of IREN as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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