Iris Energy shares are continuing a strong upward trend, reaching their highest point since early February. The stock's recent performance appears driven by broad bullish momentum as the company transitions into a major AI infrastructure provider.
- The stock has surged over 65% from its lows earlier this year, breaking above key technical moving averages.
- Momentum builds on yesterday's strong 7.5% gain, which saw the stock close at $52.02.
- The rally comes ahead of the anticipated energization of its key 1,400MW Sweetwater 1 facility, a major milestone for its AI cloud and data center ambitions.