IREN is making progress with its artificial intelligence cloud transition. Quarterly AI cloud revenue of $71 million surpassed bitcoin mining revenue of $67 million for the first time. It also landed a multiyear deal with a frontier AI lab and delivered the 50-MW Horizon 1 data center to Microsoft.
IREN’s access to cheap renewable energy and outstanding data center efficiency allows the company to undercut competitors with low prices to capture more demand.
The long-term demand for AI cloud infrastructure is highly uncertain. If IREN is unable to ramp up revenue rapidly, the large amount of convertible notes on its balance sheet will significantly dilute existing shareholder interest.
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Metric
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IREN
|
ORCL
|
NBIS
|
|---|---|---|---|
Price/Earnings (Normalized) | 141.46 | 18.60 | — |
Price/Book Value | 3.98 | 7.35 | 5.90 |
Price/Sales | 19.60 | 6.15 | 45.88 |
Price/Cash Flow | 50.25 | 14.47 | 149.30 |
|
Metric
|
IREN
|
ORCL
|
NBIS
|
|---|---|---|---|
Quick Ratio | 2.68 | 1.02 | 3.60 |
Current Ratio | 3.55 | 1.17 | 4.03 |
Interest Coverage | −12.32 | 5.07 | 0.98 |
|
Metric
|
IREN
|
ORCL
|
NBIS
|
|---|---|---|---|
Return on Assets (Normalized) | 4.99% | 9.91% | −2.61% |
Return on Equity (Normalized) | 13.23% | 63.39% | −6.61% |
Return on Invested Capital (Normalized) | 5.54% | 15.17% | −2.13% |
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1-Day Chart
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United States