IREN Bitcoin Miner AI Strategy Gets $100 Price Target From Cantor Fitzgerald

Bitcoin mining company IREN (IREN) continues to show significant growth potential as it transitions into AI infrastructure, according to Wall Street firm Cantor Fitzgerald. Analyst Brett Knoblauch highlighted IREN's strategic shift toward AI Cloud Services, comparing its business model to CoreWeave (CRWV). Despite recent stock gains, Knoblauch believes further upside remains as IREN trades at a 75% discount to comparable cloud companies. The analyst doubled his price target to $100 from $49, projecting 56% upside from current levels. IREN stock has surged 513% year-to-date and shows slight gains in premarket trading.