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3h ago

IREN Surges as Analysts Back AI-Cloud Pivot Following $674 Million GPU Order

Analysts raised targets after IREN projected $500 million in AI-cloud ARR tied to a 23,000‑GPU buildout.

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

  • Arete Research initiated coverage with a Buy and a $78 target, while Roth lifted its target to $82 following the company’s latest guidance.
  • Bernstein raised its price target to $75 and shifted its model to attribute roughly 87% of enterprise value to AI cloud and co-location.
  • IREN disclosed a $674 million GPU purchase that would expand its fleet to about 23,000 accelerators and support a $500 million ARR goal by the first quarter of 2026.
  • Shares hit new 52-week highs Wednesday and are up more than 500% over six months, with a double-digit gain on the session.
  • Analysts see credible progress on the AI buildout but flag execution and competitive risks, with bitcoin-mining cash flows—estimated near $600 million in annualized EBITDA on a 50 EH/s fleet—helping fund expansion.