There's been no shortage of catalysts for Bitcoin (BTCUSD) in 2024, from the January launch of spot Bitcoin exchange-traded funds (ETFs) to the April “halving” event. More recently, cryptocurrency markets have been keyed on potential policy changes, with former President Trump voicing support for Bitcoin, while the Fed's jumbo rate cut has also thrust alternative currencies into the spotlight.
Against this backdrop, Iris Energy (IREN), a Bitcoin miner, could be a prime growth stock to scoop up in this space. IREN has achieved record-breaking sales of $188.7 million in fiscal year 2024, alongside adjusted EBITDA of $54.7 million, and is poised for further growth with the expansion of AI cloud services.
