{"id":8727,"date":"2026-04-29T08:29:57","date_gmt":"2026-04-29T08:29:57","guid":{"rendered":"https:\/\/cryptonews.uk.com\/?p=8727"},"modified":"2026-04-29T08:29:57","modified_gmt":"2026-04-29T08:29:57","slug":"iren-doubles-down-on-ai-cloud-pivot-as-bernstein-cuts-target-but-keeps-top-pick-rating","status":"publish","type":"post","link":"https:\/\/cryptonews.uk.com\/?p=8727","title":{"rendered":"IREN Doubles Down on AI Cloud Pivot as Bernstein Cuts Target but Keeps Top Pick Rating"},"content":{"rendered":"

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  • Bernstein cut IREN\u2019s price target to $100 from $125 but kept the stock as its top pick among AI-focused Bitcoin miners.<\/span><\/li>\n
  • IREN has contracted 150,000 GPUs, with half tied to Microsoft\u2019s five-year US$9.7 billion cloud deal.<\/span><\/li>\n
  • The company says the full GPU fleet could support more than US$3.7 billion of annualised AI Cloud revenue by the end of 2026.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n

    IREN remained Bernstein\u2019s top AI-focused Bitcoin miner even after the broker cut its price target to US$100 (AU$144), as analysts pointed to the company\u2019s Microsoft-backed GPU expansion and US$3.7 billion (AU$5.33 billion) revenue target as the centre of its post-mining story.<\/p>\n

    According to a report from DLnews, Bernstein lowered the target from US$125 (AU$180) while keeping IREN as its preferred name among miners pivoting into AI infrastructure.\u00a0<\/p>\n

    The note placed IREN at US$50.64 (AU$72.92), below a 52-week high of US$76.87 (AU$110.69), but still up 674% over the prior year.<\/p>\n

    Bernstein\u2019s case rests on contracted and planned GPU capacity rather than Bitcoin mining alone. The broker said IREN had contracted 150,000 GPUs capable of supporting US$3.7 billion (AU$5.33 billion) in annual recurring revenue at full deployment by the first quarter of calendar 2027.<\/p>\n

    Related: Soldier Charged After Betting on Secret Maduro Arrest Using Classified Intel<\/strong><\/p>\n

    Microsoft and IREN\u2019s AI Shift<\/h2>\n

    IREN\u2019s AI cloud shift accelerated in November when the company signed a five-year GPU cloud services contract with Microsoft worth approximately US$9.7 billion (AU$13.97 billion), including a 20% prepayment. IREN said the agreement gives Microsoft access to NVIDIA GB300 GPUs deployed in phases through 2026 at its 750MW Childress, Texas campus.<\/p>\n

    The Microsoft deployment is tied to new liquid-cooled data centres expected to support 200MW of critical IT load. IREN also signed a Dell Technologies purchase agreement for GPUs and ancillary equipment worth approximately US$5.8 billion (AU$8.35 billion).<\/p>\n

    IREN co-founder and co-CEO Daniel Roberts stated that the Microsoft deal validated the company\u2019s vertically integrated AI Cloud platform.\u00a0<\/p>\n

    Read more: Bitcoin ETFs Flip Positive as Inflows Surge Back Into the Green<\/strong><\/p>\n<\/p><\/div>\n

    AI,Bitcoin Mining,IREN#IREN #Doubles #Cloud #Pivot #Bernstein #Cuts #Target #Top #Pick #Rating1777451397<\/p>\n","protected":false},"excerpt":{"rendered":"

    Bernstein cut IREN\u2019s price target to $100 from $125 but kept the stock as its top pick among AI-focused Bitcoin miners. IREN has contracted 150,000 GPUs, with half tied to Microsoft\u2019s five-year US$9.7 billion cloud deal. The company says the full GPU fleet could support more than US$3.7 billion of annualised AI Cloud revenue by<\/p>\n","protected":false},"author":1,"featured_media":8728,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[3725,2897,2024,2440,2250,2119,3096,4272,39,1107],"class_list":{"0":"post-8727","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bitcoin","8":"tag-bernstein","9":"tag-cloud","10":"tag-cuts","11":"tag-doubles","12":"tag-iren","13":"tag-pick","14":"tag-pivot","15":"tag-rating","16":"tag-target","17":"tag-top"},"yoast_head":"\nIREN Doubles Down on AI Cloud Pivot as Bernstein Cuts Target but Keeps Top Pick Rating - Crypto News: Latest Cryptocurrency News and Analysis<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptonews.uk.com\/?p=8727\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IREN Doubles Down on AI Cloud Pivot as Bernstein Cuts Target but Keeps Top Pick Rating\" \/>\n<meta property=\"og:description\" content=\"Bernstein cut IREN\u2019s price target to $100 from $125 but kept the stock as its top pick among AI-focused Bitcoin miners. 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