BTIG Lifts PT on Iris Energy Limited (IREN) to $32 From $22

Iris Energy Limited (NASDAQ:IREN) is one of the top high growth international stocks to buy right now. On September 9, BTIG raised the firm’s price target on Iris Energy Limited (NASDAQ:IREN) to $32 from $22, keeping a Buy rating on the shares.

IREN Ltd. (IREN) Soars for 7th Day, as Firm On Track to Hit Hash Rate Target

The rating update came as part of a broader research note focused on crypto mining names. BTIG stated that Iris Energy Limited recently announced the expansion of its GPU portfolio with the purchase of ~9k GPUs from Nvidia, lifting its owned GPU fleet to ~10.9k.

The analyst told investors that this marks a 5-fold increase from the ~2k GPUs plugged in early 2024.

Formerly known as Iris Energy Limited, IREN Limited 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.

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This article is originally published at Insider Monkey.