BTIG Remains Bullish on IREN Limited (IREN), Cites Its Strong Position in AI and Colocation Market

IREN Limited (NASDAQ:IREN) is included in our list of the 12 most promising blockchain and crypto mining stocks according to hedge funds.

On October 14, 2025, BTIG raised its price target on IREN Limited (NASDAQ:IREN) from $32 to $75, maintaining a “Buy” rating.

The investment firm’s bullish stance on IREN Limited (NASDAQ:IREN) was included in its broader note on crypto mining stocks. The firm believes rising demand for on-demand power from hyperscalers and AI-focused “neoclouds” positions the company well to capitalize on the high-performance computing (HPC) colocation opportunities.

Separately, on October 7, IREN Limited’s (NASDAQ:IREN) announced multi-year cloud service contracts with AI firms for NVIDIA Blackwell GPU deployments. These deals, which cover 11,000 of its 23,000 GPUs, are expected to help the company expand its GPU footprint across its British Columbia and Texas data centers, and deliver AI Cloud revenue of $225 million by the end of 2025.

IREN Limited (NASDAQ:IREN), a Bitcoin mining and AI data center company across North America, provides high-performance computing infrastructure and GPU-based cloud services to enterprises and institutional clients.

While we acknowledge the potential of IREN as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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