Ring the Siren, It's time to buy IREN - Targeting $45

Why am I bullish IREN?

AI Cloud Services Growth: Iris Energy's AI Cloud Services division is expected to generate $32 million in annualized profits. This is a new strategic move that leverages their existing infrastructure to diversify revenue streams beyond Bitcoin mining​

Increased Bitcoin Mining Output: For September 2024, Iris Energy mined 347 Bitcoin, with an average hashrate of 16.5 EH/s. The company continues to expand its mining capacity, contributing to higher output​

Expansion and Partnerships: Iris Energy has been rapidly scaling its operations. They recently purchased NVIDIA H200 GPUs to support their AI cloud business, and they extended a contract with Poolside to upsize their AI Cloud Services, enhancing their overall service portfolio​

These factors indicate both short-term revenue boosts and longer-term strategic growth, making IREN an attractive play in both crypto mining and AI infrastructure sectors.