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2h ago

IREN Soars as Wall Street Backs $674 Million AI-Cloud Expansion and $500 Million ARR Target

Analysts now view the miner’s AI hosting as the primary driver of enterprise value.

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Bitcoin miner iren has 80% potential upside thanks to big bet on ai cloud: bernstein
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Overview

  • IREN said it has lifted AI compute to roughly 23,000 GPUs after ordering about 12,400 accelerators for $674 million, including 7,100 Nvidia B300s, 4,200 B200s and 1,100 AMD MI350Xs.
  • The company guided its AI Cloud business to approximately $500 million in annualized run-rate revenue by the first quarter of 2026, citing strength in its vertically integrated platform.
  • Bernstein raised its price target to $75 and attributed roughly 87% of enterprise value to AI cloud, while Arete initiated at Buy with a $78 target and Roth lifted its target to $82.
  • Shares hit new 52-week highs on Wednesday and have surged more than 500% over six months, with the stock extending gains in after-hours trading.
  • Management is keeping a large bitcoin-mining operation in place, with analysts estimating a roughly 50 EH/s fleet generates substantial cash flow that can help fund the AI build-out.