Bernstein sees IREN pivoting from Bitcoin mining to $3.7B AI cloud business

AI Impact AnalysisGrok analyzing...

📄Full Article· Automatically extracted by trafilatura1211 words

Bernstein expects IREN’s AI cloud revenue to be its primary source of income in the coming years. Source: Bernstein Monday's report suggests Bitcoin mining will gradually fade into a legacy segment, with mining revenue declining over time as power capacity is redirected toward higher-margin, contracted AI computing. IREN is not alone in exploring this pivot. Several mining companies, including TeraWulf and HIVE Digital, have begun reallocating power and capital toward AI and high-performance computing, often alongside their existing Bitcoin mining operations. Related: AI data center gold rush sparks debate over impact on Bitcoin mining Bernstein assigned IREN stock a $100 price target, pointing to significant upside as the company shifts away from Bitcoin mining and toward AI infrastructure. With the stock currently trading below $50, the target implies a nearly 100% increase from current levels. The analysts maintained an Outperform rating, even after reducing their previous $125 target, reflecting a more conservative view on dilution and the gradual wind-down of Bitcoin mining. IREN stock. Source: Google Finance Related: CoreWeave’s $8.5B loan shows how AI is replacing crypto mining finance

Data Status✓ Full text extractedRead Original (CoinTelegraph)

🔍Historical Similar Events· Keyword + Asset Matching6 items

2026-04-28

IREN Price Target Cut as Bernstein Sees Firm Dumping Bitcoin Mining for AI

2026-05-18

Soluna revenue jumps 58% as hosting business offsets weaker Bitcoin mining

2026-04-29

Bitcoin ETFs fuel institutional surge, 21Shares' CIO sees $100K possible by year-end

Similarity 330%標的 BTC關鍵字 sees/bitcoin

2026-04-28

Stablecoin Giant Tether Reveals Plans for Modular Bitcoin Mining Hardware

Similarity 330%標的 BTC關鍵字 mining/bitcoin