10 Best Australian Stocks to Buy According to Billionaires

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1. IREN Limited (NASDAQ:IREN) 

Number of Hedge Fund Holders: 44

Number of Billionaire Investors: 9

Total Value of Billionaire Holdings: $61.1 million

IREN Limited (NASDAQ:IREN) is an Australia-based company that owns and operates data centers powered by 100% renewable energy. Its facilities are optimized for Bitcoin mining, AI cloud services, and other power-dense computing processes. The company not only provides security to the Bitcoin network, expanding to 57 EH/s in 2025 but also provides cloud computing to AI customers. IREN Limited (NASDAQ:IREN) is expanding capacity to 57 EH/s by H2 2025 and initiating direct-to-chip liquid cooling systems in existing data centers to enable rapid scaling for cloud & colocation opportunities.

The company experienced a 35% drop in share value despite a strong fiscal second quarter 2025 performance. Although the company reported $113 million in sales and a return to profitability, broad market concerns related to weak US manufacturing data and apprehension about tariff policies have negatively impacted the stock. The company is progressing in Bitcoin mining and AI cloud services. Management expects substantial growth despite external market pressures.

During the quarter, IREN Limited (NASDAQ:IREN) mined 1,347 Bitcoins, reflecting a notable increase of 813 bitcoins from the first quarter. On February 13, Lucas Pipes from B.Riley Financial maintained a Buy rating on the stock, with a price target of $21. It is the best Australian stock to buy according to billionaires.

While we acknowledge the potential of IREN Limited (NASDAQ:IREN) to grow, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than IREN but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

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