Boost Run IREN-CoreWeave ARR valuation

Boost Run, Inc. (BRUN)
By@hypertonx
Assumptions as of 2026-07-30
USD
Updated Jul 30, 2026 · Revised 3 times
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Boost Run IREN-CoreWeave ARR valuation

Boost Run is valued between IREN and CoreWeave on market capitalization to year-end 2026 ARR. The base case uses the equal-weighted two-peer multiple. Per-share value uses the pro-forma fully exercised warrant share count and adds the related cash proceeds to implied equity value.

as of 2026-07-30

Fair value
$13.97
Upside or downside
-25.3%
Implied equity value
1,176
ARR-derived equity value before warrant cash
1,044
IREN-CoreWeave average market-cap / ARR
2.61
IREN market-cap / ARR
3.12
CoreWeave market-cap / ARR
2.10
Pro-forma fully exercised shares
84.2
Estimated July 24 issued market capitalization
1,455
Current market-cap / ARR
3.64

Capital structure

84.2M shares

Market data

$18.69$/share
Latest BRUN quote · updated Aug 25, 2026 2:00 PM MDT

Operating

400$M

Valuation

2.61

Sources

  1. Boost Run's June 2026 investor update headlines FY2026E ARR of $400M+ and shows a detailed December 2026 ARR bridge of $375M+. — boostrun.com (accessed 2026-07-30)
  2. Boost Run reported 76.410M shares issued and outstanding as of July 2, 2026, including Class A and Class B shares. — sec.gov (accessed 2026-07-30)
  3. Boost Run had received $58.8M from warrant exercises by July 24 and could receive $131.9M in total if all remaining warrants are exercised before redemption. — investors.boostrun.com (accessed 2026-07-30)
  4. IREN targets more than $4B of year-end 2026 AI Cloud ARR; synchronized July 30 market capitalization was $12.488B. — iren.gcs-web.com (accessed 2026-07-30)
  5. CoreWeave guided to $18B-$19B ARR exiting 2026; synchronized July 30 market capitalization was $38.856B. — investors.coreweave.com (accessed 2026-07-30)
  6. Boost Run contracted with Thinking Machines Lab for 5,000 NVIDIA B300 GPUs over 36 months for approximately $471.7M. — sec.gov (accessed 2026-07-30)
  7. Boost Run listed six online sites, two Q3 2026 sites, 33MW locked capacity, and 125MW under LOI in its June investor update. — boostrun.com (accessed 2026-07-30)

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