🤑 IREN’s AI Gamble: 80% Upside or Just Another Dust Bowl Dream? 🌪️

Markets

What to know:

IREN, that ol’ miner, is tryin’ to strike gold in the AI fields, and Wall Street’s all ears. Bernstein’s boys bumped their price target to $75, sayin’ it’s got an 80% upside. That’s a mighty big bet, like puttin’ all your eggs in one basket and hopin’ the basket don’t break. 🧺

IREN’s already had a helluva ride, up eight-fold from its 52-week low of $5.13 back in April. Shares are sittin’ pretty at 365% year-over-year. That’s enough to make a man forget his troubles, at least till the next market storm rolls in. 🌪️

Bernstein’s finally buyin’ into IREN’s AI dream, even though they were skeptics at first. Figured the miner couldn’t handle the heavy liftin’ of buildin’ data centers and competin’ with the big dogs like Nvidia. But now they’re singin’ a different tune, sayin’ IREN’s got the grit to pull it off. 🎶

IREN’s guidin’ for growth that’ll make your head spin-$500 million in annual recurrin’ revenue by Q1 2026 on 23,300 GPUs. That’s up from a measly $14 million in Q1 2025. Talk about shootin’ for the moon. 🚀

And let’s not forget, IREN’s still got its hands in the bitcoin game, with a 3 gigawatt power portfolio. They’re playin’ both sides of the fence, balancin’ bitcoin minin’ and AI workloads to squeeze every last drop of revenue outta them megawatts. Smart, if you ask me, though it’s a risky dance. 💃

Their 50 EH/s minin’ operation’s bringin’ in an estimated $600 million in annualized EBITDA at current bitcoin prices. That’s fundin’ their AI expansion, accordin’ to the analysts. It’s like usin’ the old plow horse to buy a new tractor. 🐎

Bernstein’s switched to a sum-of-parts model, givin’ 87% of the enterprise value to the AI cloud and co-location potential at IREN’s 2GW West Texas site. The other 13%? That’s for the bitcoin minin’. It’s like they’re sayin’ the future’s in the clouds, not in the dirt. ☁️

At the revised target, IREN’d be tradin’ at $7.5 million per megawatt, higher than other AI-focused miners but still a far cry from the likes of CoreWeave. That leaves room for more growth, they say. Or maybe it’s just another mirage in the desert. 🏜️

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2025-09-24 17:50