IREN's stock has fallen 42.6% from its peak amid revenue misses and a costly hardware impairment, yet Wall Street analysts see potential with a $77.97 average price target, implying a 76.7% upside. The company is shifting from digital mining to AI cloud services, leasing GPU capacity to major clients like Microsoft and NVIDIA, with $4 billion in signed annual recurring revenue expected in 2026. Bernstein's bullish $100 target hinges on scarce power availability and rising contract prices, but execution risks remain, especially in bringing GPUs online. Investors will watch the December quarter closely to see if IREN can deliver on its growth promises amid heavy capital expenditures.
IREN's ongoing challenges are mirrored in its current trading on Pluang, where the stock is priced at USD 43.43, down 1.58% as of September 28, 2026, 18:03 WIB. This price remains significantly below its 52-week high of USD 76.41, reflecting the market's cautious stance despite optimistic analyst targets. Meanwhile, CIFR, another player in the tech sector, trades at USD 17.30, down 2.43%, showing broader sector volatility at the same timestamp.
JPMorgan upgraded IREN from Underweight to Overweight, projecting the company will generate $24 billion in annual revenue by 2030, a significant rise from its $707 million revenue in fiscal 2026. This forecast is based on IREN's transition from Bitco...
IREN has transformed its business by writing off $450 million in Bitcoin mining hardware and focusing on AI cloud services, doubling AI cloud revenue to $70.5 million in FY2026. Despite a GAAP net loss of $684 million, the company secured $4 billion ...
