Bernstein revised its target on $IRENon from $125 to $100, while keeping an Outperform rating. The cut reflects softer Bitcoin mining activity and share dilution — not weakness in its AI strategy.
🔥 Bigger story: IREN signed a 5-year Microsoft deal for 77,000 GPUs, projected to drive $1.94B annualized revenue.
This signals IREN’s pivot from mining toward high-growth AI infrastructure could remain a major bullish catalyst.
📊 Key Takeaways:
• Price target cut, but bullish rating maintained
• Bitcoin mining slowdown pressured valuation
• Microsoft GPU deal strengthens AI thesis
• Potential $1.94B annual revenue from AI hosting
Is IREN becoming more of an AI infrastructure play than a Bitcoin miner? 👀
#IREN #AIStocks #Microsoft #CryptoNews #StockMarket
