Iren (Iren), one of the greatest self-operated The miners in the United States are separating from the pack, and Wall Street is realizing.
Bernstein analysts raised their target price in Iran at $ 75 from $ 20, which implies around 80% rise, since the miner doubles into the construction of their own AI cloud business instead of trusting joint location agreements with partners such as Coreweave (CRWV).
Iren has already had an important movement, ahead of more than eight times since its minimum of 52 weeks of $ 5.13 in April. The shares are higher in 365% year after year.
The corridor now sees Iren’s AI pivot as credible, despite early skepticism about the mining capacity to execute in a construction of an intensive capital database and compete with cloud players linked to Hipperscalers and Nvidia (NVDA).
Iren is guiding for rapid growth, the report said, with $ 500 million in annual recurring revenues in Q1 2026 in 23,300 GPU, compared to approximately $ 14 million in the first quarter of 2025.
Beyond the AI, I will retain the flexibility with its power portfolio of 3 gigawatts (GW), balancing Bitcoin mining and AI workloads to maximize Megavatio income, they wrote Bernstein analysts led by Gautam Chicugani.
Its 50 EH/s mining operation generates approximately $ 600 million in Ebitda annualized at current Bitcoin prices, financing its AI expansion, according to analysts.
Bernstein has changed its assessment approach to a sum of the parts of parts, assigning 87% of the business value to Ai Cloud and Co-upbally potential on the 2GW West Texas site of Iren, with the remaining 13% from Bitcoin mining.
In the reviewed objective, Iran would be negotiated at $ 7.5 million per Megavatio (MW), above other AI -centered miners, but still well below the data center colleagues as Coreweave, which suggests more space for multiple expansion, the report added.
Read more: Iran’s shares jump 11% in the prior negotiation to the market, since Bitcoin Mine
