Iris Energy Limited (NASDAQ:IREN) is making waves as one of the top bitcoin mining stocks to buy amid the recent surge in Bitcoin prices. Analyst Gregory Lewis from BTIG recently maintained a Buy rating on IREN and set a price target of $22.00 for the stock.
In a recent report, Iris Energy Limited (NASDAQ:IREN) announced record monthly revenue and hardware performance in June 2025. The company reported a total revenue of $68 million and achieved its self-mining target of 50 EH/s. Additionally, Iris Energy Limited (NASDAQ:IREN) expanded its AI Cloud Business by adding approximately 2.4k Blackwell GPUs to its infrastructure. The company also completed an oversubscribed $550 million convertible notes offering, further solidifying its market presence and capabilities.
Formerly known as Iris Energy Limited, IREN Limited (NASDAQ:IREN) is an Australian company that operates renewable energy-powered data centers optimized for Bitcoin mining, AI cloud services, and other power-dense computing operations.
While Iris Energy Limited (NASDAQ:IREN) shows promise as an investment, there are other AI stocks in the market that may offer greater upside potential with lower downside risk. If you’re interested in exploring undervalued AI stocks that could benefit from current market trends, consider checking out our free report on the best short-term AI stock.
For more investment opportunities, you can also explore our recommendations for 30 stocks that are projected to double in 3 years, as well as 11 hidden AI stocks that are worth considering. Please note that the information provided in this article is for informational purposes only and does not constitute financial advice.
Disclosure: None. This article was originally published on Insider Monkey’s website.
