According to TechFlow, on July 24, Coindesk reported that broker Canaccord raised the target share price of Bitcoin mining company Iris Energy (IREN) to $15 and maintained a buy rating. The report pointed out that Iris Energy is expected to become one of the most efficient and largest publicly listed Bitcoin mining companies, and plans to launch a high-performance computing (HPC) pilot project in Childress, Texas in the second half of this year.

Analyst Joseph Vafi said the company will build 510 megawatts of data centers, acquire 2,160 megawatts of power capacity and have a development pipeline of more than 1 gigawatt by 2024. Iris Energy shares rose 1.6% to $11.06 on the Nasdaq in early trading Wednesday.