AI and HPC stocks are moving higher again, with IREN, Bitfarms, and Hive Digital extending their rally on rising GPU and cloud momentum.
By James Van Straten, AI Boost|Edited by Stephen Alpher
Oct 7, 2025, 1:22 p.m.
- IREN jumped 9% to $63 after signing new multi-year AI cloud contracts tied to NVIDIA Blackwell GPU deployments, securing $225 million in annualized run-rate revenue.
- The company is expanding capacity across its British Columbia and Texas sites, which can host more than 100,000 GPUs, supported by 2,910 MW of secured power.
IREN (IREN) shares continued to rally after announcing new multi-year AI cloud service contracts with leading AI companies for NVIDIA Blackwell GPU deployments.
The company remains on track to surpass $500 million in annualized run-rate revenue (ARR) by the end of Q1 2026 from 23,000 GPUs in operation or on order.
Contracts covering 11,000 GPUs have already been signed, representing around $225 million in ARR expected to come online by the end of 2025.
STORY CONTINUES BELOW
With average two-year contract terms and revenue payback periods, IREN is scaling across its British Columbia campuses and Horizon 1 and 2 data centers in Texas, which together can host over 100,000 GPUs supported by 2,910 MW of secured power capacity.
IREN, Co-Founder Daniel Roberts said, “Our ability to rapidly transition from ASICs to GPUs across our British Columbia campuses , and the speed at which we’re building Horizon 1 & 2, demonstrates how IREN is uniquely positioned to meet accelerating demand for AI compute.”
The AI and high-performance computing (HPC) rally continued in early U.S. trading, with Bitfarms (BITF) up 12% after gaining 15% on Monday, while Hive Digital (HIVE) climbs another 10% following a 25% surge in the previous session.
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
More For You
Sep 9, 2025
Combined spot and derivatives trading on centralized exchanges surged 7.58% to $9.72 trillion in August, marking the highest monthly volume of 2025
What to know:
- Combined spot and derivatives trading on centralized exchanges surged 7.58% to $9.72 trillion in August, marking the highest monthly volume of 2025
- Gate exchange emerged as major player with 98.9% volume surge to $746 billion, overtaking Bitget to become fourth-largest platform
- Open interest across centralized derivatives exchanges rose 4.92% to $187 billion
More For You
By Krisztian Sandor, Helene Braun|Edited by Stephen Alpher
4 minutes ago
What to know:
- Bitcoin pulled back to $122,000, reversing 3% from record highs, while major altcoins XRP, DOGE, ADA plunged 4%-5%.
- Analysts warned that several metrics point to the crypto rally getting overheated in the short-term.
- Past week’s BTC inflows and derivatives activity was the year’s highest, laying the ground for a potential shakeout, a K33 analyst said.
