ChainCatcher reported that broker Canaccord said in a research report on Tuesday that Iris Energy (IREN) is expected to become one of the most efficient and largest publicly listed Bitcoin mining companies and will launch its high-performance computing (HPC) pilot project in Childress, Texas in the second half of this year.

Canaccord raised the company's target share price from $12 to $15 while maintaining a buy rating. In early trading on Wednesday, Iris Energy's trading price on Nasdaq rose 1.6% to $11.06.