1Sem.·

IREN - Kursziel 100$ 🚀💪

Cantor Fitzgerald Raises $IREN (+11,25 %) PT to $100 from $49 - OW

Analyst comments: "We are raising our price target to $100, as we adjust our AI Cloud Services revenue estimates for IREN. Over the past several months, IREN has heavily leaned into its AI Cloud Services segment, a business we believe will ultimately closely resemble that of CoreWeave ($CRWV (+6,79 %) , Overweight).

While shares have performed well amid expectations that IREN will focus entirely on its GPU cloud, we continue to believe there is more room to run. To illustrate this, we outline a scenario in which IREN uses all of its energized capacity for its GPU Cloud.

On a contracted megawatt basis, we still see IREN trading at roughly a 75% discount to its neocloud peer group. While we acknowledge a discount is warranted today due to differences in revenue backlog, we expect this gap to narrow over time, driving a material re-rating in IREN shares.

We continue to believe that all hyperscalers and major AI labs remain materially short on compute capacity, which places IREN in a unique position given its land, power, access to capital, and data center expertise — factors that could allow it to become one of the largest compute providers globally."

Analyst: Brett Knoblauch

BamBamInvest

@BamBamInvest

2Sem.·

IREN 🚀

$IREN (+11,25 %)

Graphics from Bernstein

Analysts at research and brokerage firm Bernstein said Bitcoin miners are becoming the unexpected winners of the artificial intelligence infrastructure boom thanks to their access to pre-secured, high-density power capacity.

In a new report on Friday, analysts led by Gautam Chhugani argued that this power advantage makes miners key partners for AI cloud providers facing long connection delays and increasing network congestion. Bernstein named the leading listed Bitcoin miner by market capitalization IREN as its top recommendation, rated the stock as "outperform" and reiterated its recently raised price target of USD 75.

The report points out that Bitcoin miners have collectively secured access to more than 14 gigawatts of grid-connected power - much of it in regions with surplus renewable energy. This infrastructure could reduce the time it takes to deploy AI data centers by up to 75%, according to the analysts. This gives miners an edge over greenfield developers who face multi-year queues to connect to the grid. "Access to the power grid has become a very scarce resource in the US," the analysts write, emphasizing that miners are now attractive strategic partners for hyperscalers and AI infrastructure providers due to their early expansion.

$IREN (+11,25 %) The company controls around 3 gigawatts of operational and in-development power capacity in North America alone and has been the fastest to capitalize on the opportunity, according to analysts. The company has also acquired more than 23,300 GPUs - including the latest Blackwell models from $NVDA (+2,31 %) - and expects its AI cloud business to exceed $500 million in annual revenue by the first quarter of 2026. The upcoming 50-megawatt liquid-cooled data center from $IREN (+11,25 %) and a 2-gigawatt Sweetwater hub in Texas are key components of this expansion.