U.S. Rep. Cleo Fields of Louisiana has been in the spotlight after trading shares in Bitcoin (BTC) mining company IREN Limited (NASDAQ: IREN) in July was one of her most lucrative moves.
According to the filing, on July 10, 2025, Fields purchased between $15,001 and $50,000 worth of IREN stock. The deal, revealed in early August, coincided with a 196% rise in IREN’s stock price in about three months.
In fact, the politician has previously been involved in high-profile stock transactions and has been accused of using non-public information.
For example, in Fields’ recent Congressional transactions, in the days leading up to Oracle (NYSE:ORCL) emerging as a lead partner in the acquisition of TikTok in the U.S., Fields bought between $80,000 and $200,000 worth of Oracle stock in three transactions on September 17, 18, and 23.
It was later confirmed that Oracle would oversee TikTok’s algorithm under a Sept. 25 executive order, and reports of the deal became public on Sept. 22.
However, Mr. Fields denied any wrongdoing in the stock transactions.
IREN’s bullish fundamentals
On the other hand, several fundamental factors have contributed to the recent rise in stock prices. Notably, IREN, formerly known as Iris Energy, has rapidly expanded its Bitcoin mining capacity, reaching 50 exahashes per second earlier this year.
The company is focused on efficiency and claims one of the lowest production costs in the industry by leveraging renewable energy for its data centers.
As the price of Bitcoin increased throughout 2025, IREN’s mining margin expanded significantly.
But what really ignited investor enthusiasm was IREN’s pivot to artificial intelligence. Building on its data center footprint, the company has begun deploying high-end Nvidia (NASDAQ: NVDA) GPUs, including the latest H100 and Blackwell series chips, to power its cloud infrastructure for AI workloads.
In August, IREN secured “preferred partner” status with the American chipmaker, a designation that provides both reliability and priority access to rare hardware.
This news, coupled with strong quarterly earnings that showed a 228% increase in revenue and a return to profitability, made IREN one of the market’s most popular dual plays in crypto and AI.
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