IREN - What's Going On With Iris Energy Stock? | Benzinga
Iris Energy Limited (NASDAQ:IREN) shares are trading higher Tuesday after Cantor Fitzgerald analyst Brett Knoblauch assumed Iris Energy with an Overweight rating and a price target of $23, up from a prior target of $10.
The Details:
The Cantor Fitzgerald analyst said that Iris Energy is "approaching a meaningful growth inflection" as it plans to expand hash rate capacity from 9.4 EH/S in April to more than 40 EH/S by mid-2025.
Knoblauch also highlighted the Bitcoin miner's secured power capacity of 2,160 MW which gives Iris Energy the potential for additional hash rate growth or expansion of its AI and HPC goals. Cantor Fitzgerald sees AI/HPC as having the potential to become a meaningful revenue driver for the ...