$IREN (+2,59%) (NASDAQ:IREN), a renewable energy data center and bitcoin mining company (CRYPTO: BTC), could be significantly undervalued, according to a detailed Sum of the Parts (SOTP) analysis circulating on X, as Eric Jackson, founder of EMJ Capital, points out.
What happened: The analysis published on Sunday by ₿itcoin ₿utcher forecasts a valuation of a staggering $300 per share, representing a potential upside of 1572.24% from the current price of around $18.00 per share.
This optimistic forecast has piqued the interest of investors, with Jackson noting in his X-Post: "It's all happening now." Jackson had already announced in June that he expected the share price to rise by more than USD 100 per share over the next 18 months.
The SOTP method described by the X user breaks down IREN's value into three main revenue streams: Colocation, Bitcoin mining and cloud service provision.
The analysis assigns a value of 45.2 billion US dollars to colocation. This takes into account market comparisons and a premium due to AI-driven demand. Inspired by insights from Gary Cardone's MiningPod interview with IREN CCO Kent Draper.
