As per MetaEra, on September 25 (UTC+8), Bernstein analyst raised the target price for Bitcoin miner IREN to $75, an 80% increase from Tuesday's closing price, while maintaining an 'outperform' rating. The analyst expects IREN's AI cloud business to generate $500 million in annual revenue by early 2026, with GPU count now at 23,000. Bernstein attributes 87% of the company's enterprise value to AI and hosting services, and 13% to Bitcoin mining. IREN's current market cap is $12.2 billion, surpassing MARA to become the largest listed Bitcoin miner by market cap. (Source: PANews)
Bernstein Analyst Raises IREN Target Price by 80% to $75
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