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Iren Stock Surges Nearly 10% Amid Bullish Analyst Sentiment and AI Pivot
Iren Stock Surges Nearly 10% Amid Bullish Analyst Sentiment and AI Pivot
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BTCCSquare news:
Iren's stock soared almost 10% in a single trading session, significantly outpacing the S&P 500's modest 0.3% gain. The rally followed a dramatic price target increase from Compass Point analyst Michael Donovan, who more than doubled his fair-value estimate to $50 per share while maintaining a buy rating.
The company's strategic shift into AI-supporting data center infrastructure is driving renewed investor optimism. As demand for computational resources grows alongside artificial intelligence advancements, Iren's hardware acquisitions position it to capitalize on this emerging market. The move represents a calculated expansion beyond its core crypto mining operations.
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