- Iris Energy boosts self-mining capacity to 40 EH/s, aiming for 50 EH/s by 2025.
- Current stock price at $5.37, reflecting a 1.47% pre-market decrease.
- Analysts foresee significant upside potential with a target price of $21.13.
Iris Energy (IREN, Financial) continues to expand its capabilities by enhancing its data centers at Childress Phase 4, elevating its self-mining capacity to an impressive 40 EH/s. With ambitious plans to reach 50 EH/s by the first half of 2025, Iris Energy is positioning itself as a stronger player in the crypto mining sector. However, shares recently dipped 1.47% pre-market, settling at $5.37, opening a potential opportunity for investors.
Wall Street Analysts Forecast
Wall Street's enthusiasm for IREN Ltd (IREN, Financial) is reflected in the one-year price targets from 10 analysts, with an average target of $21.13. Given the current price of $5.45, this average suggests a remarkable upside potential of 287.61%. The high estimate sits at $25.00, while the low is at $15.50. Investors can delve deeper into these projections on the IREN Ltd (IREN) Forecast page.
According to consensus from 12 brokerage firms, IREN Ltd (IREN, Financial) holds an average recommendation rating of 1.8, signaling an "Outperform" status. This rating falls between Strong Buy at 1 and Sell at 5, illustrating a strong market confidence in the stock's prospects.
For those relying on GuruFocus insights, the estimated GF Value of IREN Ltd (IREN, Financial) for the upcoming year is positioned at $14.67. This estimate indicates a notable upside of 169.17% from the current trading price of $5.45. The GF Value represents a calculated fair value for the stock, derived from historical trading multiples, business growth, and future performance forecasts. Further insights and data details are available on the IREN Ltd (IREN) Summary page.
