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.

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

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 to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than IREN and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 11 Best Gold Royalty and Small-Cap Gold Stocks to Invest in Now and 11 Best Coal Stocks to Buy According to Hedge Funds.

Disclosure: None.