Core

Bitcoin

Broker Canaccord has predicted that Iris Energy (IREN) will soon become one of the most efficient and largest publicly listed Bitcoin miners. Their team of analysts highlighted Iris Energy’s impressive high-performance computing (HPC) capabilities and upcoming projects, according to <a href="https://www.coinspeaker.com/canaccord-iris-energy-bitcoin-miner/">Coinspeaker</a>. 
Canaccord’s research report revealed that Iris Energy is constructing 510 megawatts (MW) of data centers and has secured 2,160 MW of power capacity. They also have a development pipeline exceeding 1 gigawatt (GW). These advancements have led Canaccord to raise Iris Energy’s share-price target from $12 to $15, maintaining a buy rating. 
Canaccord anticipates that Iris Energy will expand its data centers' use beyond Bitcoin mining. They believe the Sydney-based company is well-prepared for diverse applications, including AI cloud and AI colocation. 
Mining stocks, including Iris Energy, have experienced notable gains recently. This trend follows a significant deal between <a href="https://ultramining.com/news/en/bitcoin-mining-giant-core-scientific-prepares-for-post-bankruptcy-comeback/">Core Scientific</a> and cloud computing firm CoreWeave. Wall Street giant JPMorgan noted that AI and HPC opportunities are presenting alternative uses for Bitcoin mining infrastructure. 
Iris Energy shares recently traded at $11.06, a 1.6% increase. However, this is still below their earlier $14 value before a short seller criticized the Childress site’s suitability for AI and HPC. 
Canaccord suggests that Iris Energy's ability to monetize its infrastructure through various means will enhance its market position. They expect the company to capitalize on Bitcoin mining, AI cloud services, and AI colocation, leveraging its robust infrastructure.

Iris Energy Tipped for Major Success in Bitcoin Mining by Canaccord

Ultramining_Eng

Andre artikler publisert på 25. juli 2024

Bitcoin Could Reach $2.9M By 2050, Says VanEck: Here's What Would Need To Happen

Ethereum Price Plunges 8% As ETH ETF Outflows Hit $113M, Led By Grayscale, And Investors Flock To...

Inside the World of Best Crypto Coin Presales: How Latest Strategies and Market Trends Are Shapin...

Concord announces decision to have no battle pass

Binance's First Airdrop Portal Project: What is Banana Gun?

Russian Academy Proposes Using Manure for Cryptocurrency Mining Power

Bli med på vårt gratis nyhetsbrev for daglige kryptooppdateringer!