Iris Energy (NASDAQ:IREN) is back in the spotlight, with analysts at Canaccord singing its praises for its efficient Bitcoin mining capabilities and potential for future diversification.
What Happened: Citing the company's massive power capacity and ongoing data center construction, Canaccord raised its share price target for Iris Energy to $15, up from $12, Coindesk reported.
"The company is building a massive 510 megawatts (MW) of data centers in 2024 alone," explained lead analyst Joseph Vafi in the report.
"On top of that, they've secured a staggering 2,160 MW of power capacity and have a 1 gigawatt (GW) plus development pipeline."
This puts Iris Energy in a league of its own when it comes to raw power for Bitcoin mining.
The news comes at a time when the entire mining sector is looking beyond just Bitcoin. "Mining stocks have seen a recent rerating," the report notes, referencing Core Scientific's (NASDAQ:CORZ) AI deal with CoreWeave.
This suggests that investors are starting to see the potential for Bitcoin mining sites to be repurposed for artificial intelligence (AI) and high-performance computing (HPC).
This is particularly relevant for Iris Energy, which faced a short-seller attack earlier this month questioning the suitability of its Childress, Texas site for AI and HPC.
However, Canaccord remains bullish, stating, "We believe management is well-prepared to expand the use case for its data centers beyond just Bitcoin mining, with strong infrastructure in terms of power, cooling, and network."
Bitcoin mining continues to be a vital revenue stream for Iris Energy, facilitating the funding of infrastructure developments. The company has multiple avenues to monetize its infrastructure, including Bitcoin mining, AI cloud services, and AI colocation.
What's Next: As Iris Energy navigates these changes, insights and discussions at events like Benzinga's Future of Digital Assets on Nov. 19 will be crucial in shaping the future direction of digital asset investments and innovations.
Iris Energy(纳斯达克股票代码:IREN)重新成为人们关注的焦点,Canaccord的分析师对其高效的比特币采矿能力和未来多元化的潜力表示赞赏。
发生了什么:Coindesk报告称,Canaccord以该公司庞大的电力容量和正在进行的数据中心建设为由,将Iris Energy的目标股价从12美元上调至15美元。
首席分析师约瑟夫·瓦菲在报告中解释说:“仅在2024年,该公司就建造了510兆瓦(MW)的大型数据中心。”
“最重要的是,他们已经获得了惊人的2,160兆瓦的电力容量,并拥有1千兆瓦(GW)以上的开发管道。”
这使Iris Energy在比特币采矿的原始能源方面独树一帜。
这个消息是在整个采矿业将目光投向比特币以外的时候发布的。报告指出:“矿业股最近进行了重新评级,” 报告援引了Core Scientific(纳斯达克股票代码:CORZ)与CoreWeave的人工智能协议。
这表明投资者开始看到比特币采矿场地有可能被重新用于人工智能(AI)和高性能计算(HPC)。
这对于Iris Energy来说尤其重要,该公司在本月早些时候遭到卖空者攻击,质疑其位于德克萨斯州的Childress基地是否适合人工智能和高性能计算。
但是,Canaccord仍然看涨,他说:“我们相信管理层已经做好了充分的准备,可以将其数据中心的用例扩展到比特币采矿之外,在电力、冷却和网络方面拥有强大的基础设施。”
比特币采矿仍然是Iris Energy的重要收入来源,促进了基础设施开发的融资。该公司有多种通过其基础设施获利的途径,包括比特币挖矿、人工智能云服务和人工智能托管。
下一步是什么:随着Iris Energy应对这些变化,在11月19日Benzinga的《数字资产的未来》等活动中,见解和讨论将对塑造数字资产投资和创新的未来方向至关重要。