IREN makes a massive move in the cryptocurrency mining world with another substantial GPU purchase, positioning themselves to become a hyperscaler in their own right while Soluna Holdings experiences significant price action despite Bitcoin's sideways movement.

• IREN announces purchase of 12,400 additional GPUs for $674 million, doubling their AI cloud capacity
• Projected annual AI cloud revenue of $500 million by Q1 2026
• Saluna Holdings surges 51% with shares reaching $2.08 before settling at $1.63
• Generate Capital takes a 9.99% stake in Saluna through strategic investment
• Bitcoin trading sideways around $112,895 while miners with HPC strategies show strength
• IREN introducing AMD GPUs alongside their NVIDIA partnership to expand capabilities
• Growing customer demand to contract capacity ahead of commissioning
• IREN's British Columbia campuses have capacity for up to 60,000 Blackwell GPUs
• Texas expansion continues with Sweetwater 1 energization planned for April 2026
• Questions remain about longevity of GPU models and payback periods for substantial investments

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