BTIG Maintains a Buy on Iris Energy (IREN), Sets a PT of $22

Iris Energy Limited (NASDAQ:IREN) is one of the top bitcoin mining stocks to buy amid bitcoin hike. On July 15, BTIG analyst Gregory Lewis maintained a Buy rating on Iris Energy Limited (NASDAQ:IREN) and set a price target of $22.00.

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

A table full of technology, with bitcoin mining rigs and a laptop showing a financial graph.

Iris Energy Limited reported record monthly revenue and hardware profile in June 2025. Total revenue reached $68 million, and the company reached its self-mining target of 50 EH/s.

The report also showed that Iris Energy Limited expanded its AI Cloud Business with ~2.4k Blackwell GPUs and completed an oversubscribed $550 million convertible notes offering, strengthening its market presence and infrastructure capabilities.

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.