Iris Energy ($IREN): Riding the Volatile Waves of Bitcoin and AI

Iris Energy ($IREN): Riding the Volatile Waves of Bitcoin and AI
Iris Energy ($IREN), an Australian company founded in 2018, has carved a distinct niche in the digital asset landscape. Initially positioning itself as a "green" Bitcoin miner, leveraging renewable energy sources to appeal to ESG-conscious investors, the company has significantly evolved. By 2024, it rebranded as IREN, signifying a broader ambition to move beyond just crypto mining into the burgeoning field of artificial intelligence. This strategic pivot has transformed IREN into a captivating focus for traders and analysts alike, as it now operates at the intersection of sustainable energy, cryptocurrency, and advanced AI infrastructure. Business Model Evolution: Bitcoin to AI Cloud At its core, Iris Energy's business model remains straightforward: harness cheap, renewable power to fuel specialized Bitcoin mining machines (ASICs). However, the company is now actively diversifying by building and operating GPU infrastructure for AI cloud computing, utilizing surplus energ…