IREN Limited ( IREN ) stock is trading higher Monday amid a rise in the price of Bitcoin (CRYPTO: BTC).

What To Know: Bitcoin is currently up 0.72% over a 24-hour period, trading at approximately $120,000, per data from Benzinga Pro. Bitcoin briefly reached an all-time high of $123,000 amid investor optimism and strong ETF inflows. U.S. lawmakers are set to begin deliberations on a series of crypto-related bills in what is being called "Crypto Week" in America.

Last week, the company released its June 2025 Monthly Update. It reported record monthly revenue and hardware profit, driven by stronger Bitcoin prices despite a slight dip in production. Iren ( IREN ) hit its 50 EH/s self-mining target and expanded its AI Cloud division with 2,400 new NVIDIA Blackwell GPUs.

The company also completed its transition to U.S. domestic issuer status and closed an oversubscribed $550 million convertible notes offering. Progress continued across AI infrastructure projects, including expansions at its Childress and Sweetwater data centers.

Related Link: Meta Commits ‘Hundreds Of Billions’ To Build Massive AI Clusters In Race For Superintelligence

IREN Price Action: At the time of publication, Iren ( IREN ) stock is trading 5.17% higher at $17.07, according to data from Benzinga Pro.

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