10 AI News Investors Probably Missed

5. IREN Limited (NASDAQ:IREN)

Number of Hedge Fund Holders: 28

IREN Limited (NASDAQ:IREN) operates bitcoin mining data centers and offers high-performance computing solutions, including AI cloud services.

On January 21, IREN Limited (NASDAQ:IREN) provided a business update, highlighting plans to expand its mining capacity, implement liquid-cooling technology, and advance data center developments. The company announced a $1 billion at-the-market facility to support general operations, including increasing its capacity to 57 EH/s by late 2025 and integrating liquid-cooling systems for scaling cloud and colocation services.

Construction at Sweetwater is progressing, with a 1,400MW substation expected to be operational by April 2026. IREN is also developing new data center sites and evaluating various capital sources to optimize funding. The company continues to focus on operational efficiency, cost reduction, and potential AI-related opportunities.