Bitcoin Mining Stocks Surge by 3 Trillion Won Today

Bitcoin mining and AI infrastructure firm IREN LIMITED (NASDAQ: IREN) closed at $57.85 on the 16th, up 11.46%, adding roughly $2.5 billion in market cap in a single day.

Its total market capitalization now stands at about $19 billion, marking rapid growth and highlighting it as a key beneficiary of the AI infrastructure theme.

Recently, IREN strengthened its transition story from Bitcoin miner to AI cloud infrastructure provider by signing a five-year, $9.7 billion AI computing power supply agreement with Microsoft. Following the announcement, its share price briefly surged nearly fivefold from the start of the year.

However, analysts have also flagged potential execution risks and shareholder-value dilution tied to multi-billion-dollar GPU acquisitions, expansion of liquid-cooled data centers, and the issuance of convertible notes.

IREN operates renewable-energy–powered data centers in North America with gigawatt-scale capacity, combining Bitcoin mining with high-performance computing and AI cloud services.

By significantly boosting its hashrate and Bitcoin output in 2024–2025 while deploying thousands of NVIDIA GPUs to rapidly expand AI-related revenue, IREN’s re-rating from a traditional “mining stock” to a high-growth “AI infrastructure stock” underpins its current share rally.