15 AI News and Ratings Trending on Financial Media

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13. Iris Energy Limited (NASDAQ:IREN)

Number of Hedge Fund Holders: 28  

Iris Energy Limited (NASDAQ:IREN) owns and operates bitcoin mining data centers. It also provides high performance computing solutions, including Al cloud services. On November 27, Roth MKM raised the price target on the stock to $20 from $14 and kept a Buy rating on the shares. Iris Energy accelerated its 50 EH/s timeline to the first half of 2025, which could generate around $714 million or more of annual recurring revenue by the second half of 2025, and improved BTC economics should help support site expansion, the advisory told investors in a research note. Infrastructure investments at Prince George and Childress and not purchasing additional GPUs, suggests Iris could be developing a small high performance computing colocation platform, which is likely to receive a more favorable multiple, Roth says.

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