Stock Market Today, April 23: Iren Jumps on Ongoing Data Center Pivot
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By Emma Newbery – Apr 23, 2026 at 5:14PM ESTExpandNASDAQ: IRENIrenToday's Change(7.50%) $3.63Current Price$52.02Key Data PointsMarket Cap$16BDay's Range$47.94 - $53.3752wk Range$5.72 - $76.87Volume58MAvg Vol37MGross Margin26.67%Iren (IREN +7.50%), a Bitcoin mining and AI data center operator, closed Thursday at $52.02, up 7.50%. The stock advanced on positive coverage of its data center pivot that highlighted its growth potential. Trading volume reached 57.2 million shares, coming in about 56% above its three-month average of 36.7 million shares. Iren IPO'd in 2021 and has grown 86% since going public.How the markets moved todayThe S&P 500 (^GSPC 0.41%) slipped 0.41% to finish Thursday at 7,108, while the Nasdaq Composite (^IXIC 0.89%) fell 0.89% to close at 24,439. Within data processing services, industry peers Mara Holdings (MARA 0.34%) fell 0.34% to close at $11.80, and Riot Platforms (RIOT 1.46%) dropped 1.46% to finish at $18.21, lagging Iren’s strong gains.What this means for investorsIren is one of several Bitcoin mining companies to transition into providing energy for artificial intelligence (AI) and data centers. It has soared over 750% in the past year on growing demand for AI computing capacity, including a deal with Microsoft in November. Today’s gains extend its upward momentum, following reports that some analysts view it as undervalued. It will report Q3 earnings on May 7, when investors will be looking for details on a possible $6 billion share issuance. The funds would further cement its transition away from Bitcoin and into AI infrastructure, but some are concerned about share dilution and want clarity on revenue projections. Read NextApr 21, 2026 •By Rick OrfordShould You Buy Iren Stock Before May 13?Apr 20, 2026 •By Marc GubertiHow AI Data Center Activism Can Affect Tech StocksApr 19, 2026 •By Billy DubersteinIren's AI Cloud Pivot Is Exploding -- Could This 500% Winner Help Turn $100,000 Into $1 Million by 2036?Apr 14, 2026 •By Marc GubertiMassive U.S.
Data Center Delays and Cancellations Are Good for These 3 AI StocksApr 8, 2026 •By Rick OrfordIren's Next Move Could Decide Its Entire AI ThesisApr 7, 2026 •By Marc GubertiThe Crowd Is Dumping Iren. Here's Why I'd Be Buying It Down 54%.About the AuthorEmma Newberry is a contributing Motley Fool cryptocurrency analyst covering digital currencies and blockchain trends. She previously wrote for Motley Fool Money (formerly The Ascent) on personal finance, investing, retirement readiness, and crypto. Earlier in her career, Emma founded an English-language newspaper in Colombia and contributed to Olympic city bid campaigns. She holds a bachelor’s degree in English literature with creative writing from the University of East Anglia in the UK.TMFemmanewberyStocks MentionedIrenNASDAQ: IREN$51.99(+7.44%)+$3.60Mara HoldingsNASDAQ: MARA$11.80(-0.34%)-$0.04Riot PlatformsNASDAQ: RIOT$18.21(-1.46%)-$0.27*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.