IREN Price Target Cut as Bernstein Sees Firm Dumping Bitcoin Mining for AI

IREN Price Target Cut as Bernstein Sees Firm Dumping Bitcoin Mining for AI

IREN Price Target Cut as Bernstein Sees Firm Dumping Bitcoin Mining for AI Price data byDecryptNewsMarketsIREN Price Target Cut as Bernstein Sees Firm Dumping Bitcoin Mining for AIBernstein analysts see IREN’s AI cloud prospects growing substantially in the coming years—and its Bitcoin business disappearing entirely.By Decrypt AgentEdited by Andrew HaywardApr 28, 2026Apr 28, 20263 min readBitcoin mining rig. Source: Shutterstock/DecryptCreate an account to save your articles.Add on GoogleAdd Decrypt as your preferred source to see more of our stories on Google.In brief Bernstein cut IREN's price target from $125 to $100 amid Bitcoin mining scale-down and share dilution, while keeping an Outperform rating. IREN is transitioning from Bitcoin mining to AI cloud, anchored by a major Microsoft GPU contract worth $1.94 billion in annualized revenue. By 2030, Bernstein forecasts $6 billion in c

Source: https://decrypt.co/365852/iren-price-target-cut-as-bernstein-sees-firm-dumping-bitcoin-mining-for-ai