PANews reported on September 25th that according to The Block , Bernstein analysts raised their target price for Bitcoin mining company IREN to $ 75 , approximately 80% above Tuesday's closing price, and maintained their "Outperform" rating. Analysts estimate IREN's AI cloud business to generate $ 500 million in annual revenue by early 2026 , given its current 23,000 GPUs . Bernstein attributes 87% of the company's enterprise value to its AI and hosting businesses, with only 13% attributed to Bitcoin mining. IREN's current market capitalization is $ 12.2 billion, surpassing MARA to become the largest publicly traded Bitcoin miner by market capitalization.