IREN is set to report quarterly earnings amid a Bitcoin price test of $80,000, with investors closely watching its progress in transitioning mining operations toward AI hosting services.

Bitcoin’s price continued to trade around three-month highs near $80,000 on Thursday, spurred by last week’s Treasury Department bond buyback plan and renewed regulatory agitation from the Trump administration. Crypto stocks swung higher Thursday, reflecting broad sector strength following the close.

Leading the rally was IREN (IREN), which transitioned from a Bitcoin miner to an AI and high-performance computing infrastructure provider. The company topped revenue estimates after hours.