Quarterly Earnings Report: IREN Limited reported earnings of 66 cents per share, significantly exceeding the consensus estimate of 14 cents, with quarterly revenue reaching $187.3 million, up from $52.76 million year-over-year.
Growth Potential: The company is approaching $1.25 billion in total annualized revenue, with over $1 billion expected from Bitcoin mining and $200-$250 million from AI Cloud services by December 2025.
Operational Expansion: IREN expanded its power capacity to nearly 3GW and tripled its data center capacity to 810MW, while also completing a significant expansion in GPU resources for AI Cloud.
Stock Performance: Following the earnings announcement, IREN's stock rose by 7.94%, trading at $24.87 in extended hours.
IREN
$36.59+Infinity%1D
Analyst Views on IREN
Wall Street analysts forecast IREN stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for IREN is 83.45 USD with a low forecast of 28.00 USD and a high forecast of 136.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
13 Analyst Rating
Wall Street analysts forecast IREN stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for IREN is 83.45 USD with a low forecast of 28.00 USD and a high forecast of 136.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
9 Buy
2 Hold
2 Sell
Moderate Buy
Current: 35.480
Low
28.00
Averages
83.45
High
136.00
Current: 35.480
Low
28.00
Averages
83.45
High
136.00
JPMorgan
Underweight
maintain
$28 -> $39
2025-11-24
Reason
JPMorgan
Price Target
$28 -> $39
2025-11-24
maintain
Underweight
Reason
JPMorgan raised the firm's price target on Iren to $39 from $28 and keeps an Underweight rating on the shares. The "flurry of deal activity" in high performance compute gives JPMorgan higher conviction in the bitcoin miners. It cites richer integrated cloud valuation assumptions for the target boost.
Citizens JMP
Greg Miller
initiated
$80
2025-11-19
Reason
Citizens JMP
Greg Miller
Price Target
$80
2025-11-19
initiated
Reason
Citizens JMP analyst Greg Miller initiated coverage of Iren with an Outperform rating and $80 price target. The firm launched coverage of five companies previously in bitcoin mining, saying they provide "critically-scarce" power supply for high performance compute and artificial intelligence. The deployment of graphics processing unit clusters represents an opportunity to "unlock significant value," the analyst tells investors in a research note. Citizens sees strong pricing trends with a continued supply/demand imbalance for the group.
Cantor Fitzgerald
Overweight
downgrade
$142 -> $136
2025-11-07
Reason
Cantor Fitzgerald
Price Target
$142 -> $136
2025-11-07
downgrade
Overweight
Reason
Cantor Fitzgerald lowered the firm's price target on Iren (IREN) to $136 from $142 and keeps an Overweight rating on the shares. The centerpiece of Iren's earnings was its newly announced five-year, $9.7B deal with Microsoft (MSFT) for 200 MW of IT load at its Childress, Texas site, positioning the company as one of the world's largest emerging neocloud providers, the analyst tells investors in a research note. With significant remaining capacity and heightened credibility from the Microsoft partnership, additional large-scale deals appear likely in the near-term, Cantor says.
H.C. Wainwright
H.C. Wainwright
Sell
maintain
$45 -> $56
2025-11-07
Reason
H.C. Wainwright
H.C. Wainwright
Price Target
$45 -> $56
2025-11-07
maintain
Sell
Reason
H.C. Wainwright raised the firm's price target on Iren to $56 from $45 and keeps a Sell rating on the shares. The company reported "underwhelming" earnings for fiscal Q1 and raised its "lofty" artificial intelligence cloud revenue guidance for 2026. H.C. Wainwright sees "quite high" execution and financing risks for Iren. It sees "significant risks" to the company meeting its 2026 revenue outlook.
About IREN
IREN Limited is an Australia-based company, which owns and operates data centers powered by 100% renewable energy. Its facilities are optimized for Bitcoin mining, artificial intelligence (AI) cloud services, and other power-dense compute. Its data center mining facilities are in Canal Flats, Mackenzie, Prince George and Childress. Bitcoin Mining provides security to the Bitcoin network. Al Cloud Services provides cloud compute to Al customers, approximately 1,896 NVIDIA H100 and H200 GPUs. Its Canal Flats facility is in the Canadian Rockies, 100 kilometers (km) from Cranbrook regional airport and 500km east of Vancouver. Its facility is in Prince George, the city in northern British Columbia, located 500 km north of Vancouver. Its facility is located in Childress County, Texas, over 250 miles northwest of Dallas and in close proximity to multiple wind and solar generating facilities in the region. Its Childress operations comprise 200 Mega Watt of operating data centers.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
