Bitcoin Miner Iren Limited stock (NASDAQ: IREN) has blown up high today as investors are priced at the company’s pivots, from pure play Bitcoin miners to integrated AI-Cloud operators.
The stock jumped into double-digit profit after two separate analyst calls gave new convictions behind the company’s strategy and Aylen announced a massive GPU procurement that would effectively change the revenue runway.
Aylen has surged 110% to $48.75 over the past month. This includes today’s 16.6% jump, an increase of over 530% over the past six months.
Why is Airen soaring?
Heading drivers are easy. Iren says it doubled its AI cloud capacity to about 23,000 GPUs after purchasing 12,400 units of $674 million. Investors can value their specific capabilities and revenue targets.
Wall Street responded quickly. According to Coindesk, Bernstein triples its target and is driven as a “breakout” driven by exponential AI cloud scaling.
Around the same time, Arete Research began coverage with a purchase and $78 target, reflecting the view that it combines its data center and mining footprint to give its own claims in the market.
Analysts said calls from two shops with significantly different frameworks pushed stock into Top Gaines on the Crypto-infrastructure screen.
Iren Management is clear that it will build a liquid-cooled high-density AI hall (including a 75MW AI site planned directly at CHIP, Texas) and combine its physical capabilities with its existing low-cost power portfolio.
The power, land and data centers own Ayren can capture larger slices of economics per megawatt than miners who simply leased their capabilities to hyperschools.
That vertical control is central to Bernstein’s reevaluation paper.
Market bids also reflect partial offsets. Airen has not given up on Bitcoin. The company still operates one of the largest Serfran mining fleets in the United States, with analysts pointing to the substantial bitcoin cash flow of miners (around hundreds of millions of EBITDA at current prices) as a source of funding for AI Capex.
Switching between mining and GPU hosting and GPU hosting according to yield per megawatt – is central to investors’ willingness to allocate premium multiples to Iren’s new AI assets.
Source: https://bitcoinmagazine.com/bitcoin-mining/iren-stock-soars-bitcoin-mining-firm-surges-on-wall-street-ai-cloud-optimism
