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Bernstein maintains the rating of the listed Bitcoin mining company IREN as "outperform".
On September 24, The Block reported that IREN has performed strongly recently, with its stock price rising over 500% in the past six months and its market capitalization surpassing MARA, making it the largest publicly listed Bitcoin miner. However, this did not prevent analysts at research and brokerage firm Bernstein from raising their target price more than threefold on Wednesday, setting a new target of $75 per share, while maintaining an "outperform" rating—based on its AI cloud business expected to achieve "exponential" growth.