IREN targets $115 with 92% upside
IREN has locked in 84% of its $3.7 billion 2026 ARR target through contracts with major companies.
The company’s transformation from a Bitcoin miner to an AI cloud platform has driven its stock up 511.84% over the past year.
IREN’s Q3 FY2026 report showed revenue of $144.8 million and a $247.8 million net loss, but AI Cloud Services revenue almost doubled sequentially to $33.6 million.