The Impact Of AI On Iris Energy's Bitcoin Mining Success [Seeking Alpha]
Iris Energy Limited (IREN)
Company Research
Source: Seeking Alpha
The company's main source of income is Bitcoin mining, but it is considering expanding into offering high-computing solutions for other clients. IREN has seen an increase in assets and cash and has no financial debt, which could attract attention from investors. AI could be employed to diminish electricity consumption. Iris Energy Limited ( NASDAQ: IREN recently noted a new 2024 harsh rate of 20 EH/s expected after the purchase of new NVIDIA GPUs, with two data centers to be completed in 2024. Assuming new operating efficiency from artificial intelligence and the double-digit growth of the Bitcoin mining industry, IREN could receive a significant amount of cash from investors to run operations. Yes, there are risks from increases in the price of electricity or changes in the price of Bitcoin, however under my DCF models, IREN does show significant upside potential in the stock price. Iris Energy Iris Energy is a company in the IT sector running data storage centers supporte
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IREN
News
- We're Not Worried About Iris Energy's (NASDAQ:IREN) Cash Burn [Yahoo! Finance]Yahoo! Finance
- Operating hashrate increased to 9 EH/sGlobeNewswire
- Poolside upsizes and extends AI Cloud Services contractGlobeNewswire
- IREN Announces Monthly Investor Update for March 2024GlobeNewswire
- Iris Energy Limited (NASDAQ: IREN) had its "buy" rating re-affirmed by analysts at HC Wainwright. They now have a $10.00 price target on the stock.MarketBeat
IREN
Sec Filings
- 4/29/24 - Form 6-K
- 4/8/24 - Form 6-K
- 4/4/24 - Form 6-K
- IREN's page on the SEC website