IREN Stock Forecast: Can the Bitcoin Miner-Turned AI Data Center Rally After Earnings?

IREN stock has come under pressure this year as investors have dumped companies in the neocloud industry amid fears that the AI bubble will burst. It dropped to $24.25 on Tuesday, down by over 68% from its highest point last year. So, will the Bitcoin miner-turned AI data center company rise or fall after the earnings? IREN, formerly known as Iris Energy, has slumped sharply in the past few months amid ongoing concerns about its business.