Core Viewpoint - Iren (IREN) is experiencing a bullish sentiment among investors, driven by a significant price target increase from analysts, indicating strong future potential for the company [1][3]. Stock Performance - Iren's stock gained nearly 10% in value, outperforming the S&P 500's 0.3% increase during the same trading sessions [2]. Analyst Insights - Michael Donovan from Compass Point raised Iren's fair-value assessment from $23 to $50 per share, reflecting an increase of over 100%, while maintaining a buy recommendation [3]. Business Strategy - Iren is undergoing a business pivot, continuing its Bitcoin mining operations while aggressively expanding into data center buildouts, which are expected to benefit from the growing resource demands of artificial intelligence (AI) technology [5]. Market Potential - The company's recent investments in hardware to enhance its AI-supporting infrastructure signal a strong commitment to this pivot, with expectations of limited supply for high-density computing resources in the coming years, indicating high potential for growth [6].