BTC miner IREN experienced a significant surge in its stock price, rising 25% following a positive earnings report. According to financial broker Canaccord Genuity, the company’s price target was raised by 60% from $24 to $37, driven by enhanced revenue visibility from its bitcoin mining and artificial intelligence operations. IREN reported Q4 bitcoin mining revenue of $187.3 million, with a notable 33% increase compared to the previous quarter, and an adjusted EBITDA growth of 46% to $121.9 million. The firm's mining operations achieved an annual revenue run rate exceeding $1 billion, supported by a capacity of 50 EH/s and competitive mining costs of $36,000 per bitcoin. IREN's acceleration in AI expansion was also highlighted, marked by recent partnerships, including its designation as an NVIDIA preferred partner and a new acquisition of 2,400 GPUs, positioning IREN to potentially be one of the largest energy-efficient publicly listed miners in the sector.

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