IREN Ltd. (IREN) Jumps as Investors Optimistic Ahead of Earnings

We recently published 10 Big Names With Surprising Gains. IREN Ltd. (NASDAQ:IREN) is one of Wednesday’s best performers. IREN Ltd. grew its share prices by 5.5 percent on Wednesday to finish at $19.76 apiece as investors repositioned portfolios ahead of the release of its earnings performance for the full fiscal period of 2025. According to the company, it is scheduled to report its financial and operating highlights after market close on August 28, a Thursday, alongside an investor call to elaborate on the results. Among the highlights to be watched out for include its outlook for the next fiscal period, having achieved its operating hash rate target of 50 EH/s in June this year which was expected to help bolster revenues from Bitcoin mining moving forward. In a statement earlier, IREN Ltd. (NASDAQ:IREN) said a 50 EH/s operating hash rate could help generate some $830 million in annualized hardware profit. Last month, IREN Ltd. (NASDAQ:IREN) announced a higher Bitcoin production of 728 units that successfully raked in $83.6 million in revenues. The total figure marked a 27.6 percent increase from the $65.5 million in revenues from 620 Bitcoins mined in June. Additionally, IREN Ltd. (NASDAQ:IREN) benefitted from an 8.66-percent higher Bitcoin price last month, at t $114,891 versus the $105,730 in June. While we acknowledge the potential of IREN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.