Analysts Lower Price Target for Microsoft-Linked Crypto Stock Amid AI Expansion
Analysts from Bernstein have lowered their price target for Iren Limited (IREN) by 20%, citing the company's scaling back of Bitcoin mining operations and increased shares from equity issuances. Despite the reduction, IREN remains the top pick among AI-focused Bitcoin mining companies, with projected AI cloud revenue reaching $2.6 billion in 2027 and $6 billion by 2030.
Topics: AI operations Bitcoin mining Microsoft partnership NVIDIA GPUs stock price target