--- title: "Why Is IREN Stock Surging on Thursday?" type: "News" locale: "en" url: "https://longbridge.com/en/news/294377679.md" description: "IREN stock surged in premarket trading on Thursday, recovering from a previous 13.62% drop. Co-CEO Daniel Roberts highlighted that demand for the company's data center capacity exceeds supply, with 85% of its $4 billion 2026 target already contracted. Recent announcements include $2.8 billion in new customer contracts and an appointment of a new CISO. Despite the bounce, technical indicators show the stock remains below key moving averages, indicating a longer-term downtrend." datetime: "2026-07-30T13:28:04.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/294377679.md) - [en](https://longbridge.com/en/news/294377679.md) - [zh-HK](https://longbridge.com/zh-HK/news/294377679.md) generator: "portal-rs" --- # Why Is IREN Stock Surging on Thursday? **IREN Ltd** (NASDAQ:IREN) stock moved higher on Thursday, a day after the stock fell 13.62%. Nasdaq futures are up 1.69% while S&P 500 futures have gained 0.67%. ## **Co-CEO Addresses Investors** **Daniel Roberts**, co-founder and co-CEO of IREN, said in a post on X on Thursday that the company has spent the past eight years building a portfolio of powered land in anticipation of growing demand for computing infrastructure. He said demand for IREN’s capacity currently exceeds what the company can build, with 85% of its more than $4 billion 2026 target already under contract. Roberts added that construction is actively underway across the company’s sites, with teams continuing to expand GPU infrastructure. **Read Also: Stock Market Today: S&P 500, Nasdaq 100 Futures Gain as Federal Reserve Holds Interest Rates—Meta, Microsoft, Apple in Focus** ## **Recent Company Announcements** On Jul. 20, IREN signed $2.8 billion in new customer contracts with AI developers and raised its 2026 Annual Recurring Revenue target to over $4 billion. The company also appointed **Eric Hammersley** as Chief Information Security Officer on July 15. IREN operates data centers powered by renewable energy in Canada and the U.S. for bitcoin mining and AI cloud infrastructure. ## **Financial Snapshot** For the quarter ended March 31, IREN reported cash and cash equivalents of $2.213 billion and total assets of $7.265 billion. The company’s market capitalization stands at $10.475 billion. ## IREN Stock: Key Levels and Momentum Indicators IREN is still in a longer-term reset despite the premarket bounce: at $31.97, the stock is trading 16.8% below its 20-day SMA ($38.80) and 34.8% below its 50-day SMA ($49.57), which keeps the intermediate trend pointed down. It’s also 33.2% below its 200-day SMA ($48.34), showing how much ground it would need to recover to get back into a sustained uptrend. The bigger-picture backdrop is mixed because the stock logged a golden cross in May (50-day SMA above the 200-day SMA), but price has since slipped well under those longer averages, undercutting that bullish signal. The chart’s recent turning points reinforce the chop: a swing high formed in June, a swing low followed in July, and the stock broke below support in July—often a sign that prior buyers are now potential sellers on rebounds. **IREN Stock Price Activity:** Iren shares were up 9.11% at $31.98 during premarket trading on Thursday, according to Benzinga Pro data. **Read Also: SK Hynix Slump Marks 'Short-Term Bottom' in AI Stocks Fueled by Forced Liquidations, Says Dan Niles** *Photo: Tigarto / Shutterstock.com* ### Related Stocks - [IREN.US](https://longbridge.com/en/quote/IREN.US.md) - [IRE.US](https://longbridge.com/en/quote/IRE.US.md) - [IREX.US](https://longbridge.com/en/quote/IREX.US.md) - [IREZ.US](https://longbridge.com/en/quote/IREZ.US.md) - [META.US](https://longbridge.com/en/quote/META.US.md) - [MSFT.US](https://longbridge.com/en/quote/MSFT.US.md) - [AAPL.US](https://longbridge.com/en/quote/AAPL.US.md) ## Related News & Research - [2 Major Catalysts Are Lifting IREN Stock. How to Play It Here.](https://longbridge.com/en/news/296030303.md) - [IREN Is Quietly Outpacing CoreWeave on One AI Metric that Matters](https://longbridge.com/en/news/296258675.md) - [IREN Just Passed Its Biggest AI Test as Microsoft and Nvidia Bet Billions](https://longbridge.com/en/news/296533962.md) - [IREN's $4 billion AI target just became far more credible](https://longbridge.com/en/news/295431012.md) - [Stanley Druckenmiller Just Made a Big Bet on IREN While Dumping Broadcom, Intel and Micron](https://longbridge.com/en/news/296080221.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**