Analysts Reduce Price Target for Iren Limited Despite AI Expansion
Analysts from Bernstein have reduced their price target for Iren Limited (IREN) by 20%, from $125 to $100, despite the company's AI expansion. The adjustment is attributed to Iren's scaling back of Bitcoin mining operations and increased shares outstanding from recent equity issuances. Iren had signed a $9.7 billion agreement with Microsoft in November 2025 to provide AI cloud infrastructure.
Topics: AI operations analyst report Bitcoin mining Microsoft partnership stock price target