2024-04-22 06:18:47 ET
Summary
- Iris Energy is a company in the IT sector that operates data storage centers powered by renewable energy.
- The company's main source of income is Bitcoin mining, but it is considering expanding into offering high-computing solutions for other clients.
- IREN has seen an increase in assets and cash and has no financial debt, which could attract attention from investors.
- AI could be employed to diminish electricity consumption.
Iris Energy Limited ( IREN ) recently noted a new 2024 harsh rate of 20 EH/s expected after the purchase of new NVIDIA GPUs, with two data centers to be completed in 2024. Assuming new operating efficiency from artificial intelligence and the double-digit growth of the Bitcoin mining industry, IREN could receive a significant amount of cash from investors to run operations. Yes, there are risks from increases in the price of electricity or changes in the price of Bitcoin, however under my DCF models, IREN does show significant upside potential in the stock price.
Iris Energy
Iris Energy is a company in the IT sector running data storage centers supported 100% by renewable energies. The company's income comes mainly from Bitcoin mining activity, in addition to transaction fees and various exchange mechanisms towards other types of digital currencies that are backed by traditional currencies....
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For further details see:
The Impact Of AI On Iris Energy's Bitcoin Mining Success