{"id":44776,"date":"2025-08-29T14:01:51","date_gmt":"2025-08-29T14:01:51","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=44776"},"modified":"2025-08-29T14:01:51","modified_gmt":"2025-08-29T14:01:51","slug":"bitcoin-miner-irens-ai-push-gains-momentum-price-target-hiked-60-to-37-canaccord","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=44776","title":{"rendered":"Bitcoin Miner IREN&#8217;s AI Push Gains Momentum, Price Target Hiked 60% to $37: Canaccord"},"content":{"rendered":"<div>\n<p>IREN (IREN) reported fourth-quarter results that highlighted rapid progress in both its bitcoin mining and artificial intelligence infrastructure businesses, according to a Friday research report by broker Canaccord Genuity.<\/p>\n<p>The broker reiterated its buy rating on the stock and hiked its price target 60% to $37 from $24, citing stronger visibility in both mining and AI revenue streams.<\/p>\n<p>In early trading, shares are higher by 25% to $28.75.<\/p>\n<p>The company\u2019s mining unit reached an annualized revenue run rate above $1 billion, powered by 50 exahash per second (EH\/s) of capacity and one of the industry\u2019s most efficient fleets at 15 J\/TH, operating on 3.5 cent\/kWh power, analysts led by Joseph Vafi wrote. That translates into a $36,000 cost to mine a bitcoin, well below market levels.<\/p>\n<p>Bitcoin mining revenue came in at $187.3 million for the quarter, up 33% sequentially, while adjusted EBITDA jumped 46% to $121.9 million.<\/p>\n<p>On the AI side, IREN is accelerating expansion, the report noted. The bitcoin miner quadrupled its hashrate and added another megawatt of power capacity, now totaling 3 MW, with further growth expected in fiscal 2025.<\/p>\n<p>The hashrate refers to the total combined computational power used to mine and process transactions on a <a href=\"https:\/\/www.coindesk.com\/tech\/2021\/09\/16\/understanding-proof-of-work-proof-of-stake-and-tokens\">proof-of-work<\/a> blockchain, and is a proxy for competition in the industry and mining difficulty.<\/p>\n<p>Canaccord also noted IREN&#8217;s recent designation as an NVIDIA (NVDA) preferred partner, which came almost simultaneously with the announcement of the purchase of an additional 2,400 GPUs.<\/p>\n<p>With 2,910 MW of secured power capacity and some of the lowest all-in cash costs in the industry, Canaccord argues IREN is positioned to become one of the largest and most efficient publicly listed miners, with significant optionality in high-performance computing.<\/p>\n<p><strong><em>Read more: <a href=\"https:\/\/www.coindesk.com\/business\/2025\/08\/29\/iren-posts-first-full-year-profit-on-ai-cloud-growth-mining-expansion-shares-climb\"><span style=\"text-decoration:underline\">IREN Posts First Full-Year Profit on AI Cloud Growth, Mining Expansion; Shares Climb<\/span><\/a><\/em><\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>IREN (IREN) reported fourth-quarter results that highlighted rapid progress in both its bitcoin mining and artificial intelligence infrastructure businesses, according to a Friday research report by broker Canaccord Genuity. The broker reiterated its buy rating on the stock and hiked its price target 60% to $37 from $24, citing stronger visibility in both mining and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-44776","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/44776","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=44776"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/44776\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=44776"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=44776"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=44776"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}