AI and high-performance computing (HPC) stocks extended gains Thursday, with IREN (IREN), Bitfarms (BITF), and Hive Digital (HIVE) benefiting from strong momentum in GPU deployments and cloud services.
IREN surged after announcing multi-year AI cloud contracts with leading AI companies for NVIDIA Blackwell GPU deployments. The company expects to surpass $500 million in annualized run-rate revenue (ARR) by the end of Q1 2026, supported by 23,000 GPUs either in operation or on order.
Contracts covering 11,000 GPUs alone are projected to generate roughly $225 million ARR by year-end 2025. With typical two-year terms and efficient revenue payback, IREN is scaling operations across its British Columbia campuses and Horizon 1 & 2 data centers in Texas, which together can host more than 100,000 GPUs backed by 2,910 MW of secured power capacity.
Co-founder Daniel Roberts stated, “Our rapid transition from ASICs to GPUs and the speed of scaling Horizon 1 & 2 demonstrates IREN’s ability to meet accelerating AI compute demand.”
Mining Stocks Continue Rally
The AI and HPC sector rally carried into early U.S. trading, with Bitfarms climbing 12% after a 15% gain on Monday, and Hive Digital rising 10% following a 25% surge in the previous session, highlighting continued investor enthusiasm for GPU-driven mining operations.
