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.
