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Reading: Bitcoin Miner IREN’s AI Push Gains Momentum, Price Target Hiked 60% to $37: Canaccord
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Your Crypto News Today > Mining > Bitcoin Miner IREN’s AI Push Gains Momentum, Price Target Hiked 60% to $37: Canaccord
Mining

Bitcoin Miner IREN’s AI Push Gains Momentum, Price Target Hiked 60% to $37: Canaccord

August 30, 2025 2 Min Read
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IREN (IREN) reported fourth-quarter outcomes that highlighted speedy progress in each its bitcoin mining and synthetic intelligence infrastructure companies, in response to a Friday analysis report by dealer Canaccord Genuity.

The dealer reiterated its purchase ranking on the inventory and hiked its value goal 60% to $37 from $24, citing stronger visibility in each mining and AI income streams.

In early buying and selling, shares are increased by 25% to $28.75.

The corporate’s mining unit reached an annualized income run fee above $1 billion, powered by 50 exahash per second (EH/s) of capability and one of many business’s best fleets at 15 J/TH, working on 3.5 cent/kWh energy, analysts led by Joseph Vafi wrote. That interprets right into a $36,000 price to mine a bitcoin, effectively under market ranges.

Bitcoin mining income got here in at $187.3 million for the quarter, up 33% sequentially, whereas adjusted EBITDA jumped 46% to $121.9 million.

On the AI facet, IREN is accelerating growth, the report famous. The bitcoin miner quadrupled its hashrate and added one other megawatt of energy capability, now totaling 3 MW, with additional development anticipated in fiscal 2025.

The hashrate refers back to the complete mixed computational energy used to mine and course of transactions on a proof-of-work blockchain, and is a proxy for competitors within the business and mining issue.

Canaccord additionally famous IREN’s latest designation as an NVIDIA (NVDA) most popular accomplice, which got here nearly concurrently with the announcement of the acquisition of a further 2,400 GPUs.

With 2,910 MW of secured energy capability and among the lowest all-in money prices within the business, Canaccord argues IREN is positioned to turn out to be one of many largest and best publicly listed miners, with vital optionality in high-performance computing.

Learn extra: IREN Posts First Full-Yr Revenue on AI Cloud Progress, Mining Growth; Shares Climb

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