Roth MKM Remains Bullish on IREN Limited (IREN)

Yahoo

3 days ago

IREN Limited (NASDAQ:IREN) is one of the 13 Crypto Stocks with the Highest Upside Potential. In a report released on June 17, Darren Aftahi from Roth MKM maintained a Buy rating on IREN Limited (NASDAQ:IREN) with a price target of $20.75.
The company's May report showed record revenue and hardware profit, reporting $1.6 million in daily hardware profit and $67 million in monthly revenue. It is on track for 50 EH/s by June 30 and is executing on its Horizon 1 AI Data Center at pace, set for delivery in Q4 2025.
A table full of technology, with bitcoin mining rigs and a laptop showing a financial graph.
IREN Limited (NASDAQ:IREN) also reported positive fiscal Q3 2025 results, with record revenues of $148.1 million compared to $119.6 million in fiscal Q2 2025. The company reported a 24% growth in Bitcoin mining revenue to $141.2 million and a notable 33% rise in AI Cloud services revenue to $3.6 million.
IREN Limited (NASDAQ:IREN) mined 1,514 Bitcoin in the quarter compared to 1,347 Bitcoin in fiscal Q2 2025, supported by growth in operating hash rate.
Formerly known as Iris Energy Limited, IREN Limited (NASDAQ:IREN) is an Australia-based company that owns and operates renewable energy-powered data centers. Its facilities are specially optimized for Bitcoin mining, AI cloud services, and other power-dense computing.
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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