Top 10 AI News Updates You Should Not Miss

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7. Iris Energy (NASDAQ:IREN)

Number of Hedge Fund Holders: 28

Iris Energy (NASDAQ:IREN) operates 360MW of operational next-gen data centers, each powered by 100% renewable energy and capable of running over 70kW racks. These data centres are optimized for Bitcoin mining, AI cloud services, and power-dense applications. The company chooses data centres locations close to abundant and low-cost renewable energy sources to meet the growing demand for high-performance computing applications. Iris Energy (NASDAQ:IREN) has partnered with data service platform software providers for GPU optimization in data centers to offer data storage and management solutions for GenAI workloads.

On January 21st, Roth MKM retained a “Buy” on the Iris Energy (NASDAQ:IREN) stock, describing it as the firm’s top pick in Digital Assets as US President Donald Trump’s crypto stance should favor miners with US-based operations. The analysts added that the administration could focus on AI and cyber security, the former of which should benefit hybrid HPC/AI/BTC coverage names. The brokerage explained that the company mines bitcoin at or near the industry low cost of about $29,000 all-in cost at 31 EH/s and power cost of about $22,800 as of December per BTC while having a flexible and available interconnect capacity.

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