According to Odaily Planet Daily, broker Canaccord said that Iris Energy (IREN) is expected to become one of the most efficient and largest publicly listed Bitcoin mining companies and will launch an HPC pilot project in Texas in the second half of this year.
Analysts noted that the company will build 510 megawatts of data centers, acquire 2,160 megawatts of power capacity by 2024, and has a development pipeline of more than 1 gigawatt.
Canaccord raised its price target on the company to $15 from $12 while maintaining a buy rating.Iris Energy was trading up 1.6% at $11.06 on the Nasdaq in early trading Wednesday.
