Bernstein maintains the rating of Bitcoin mining company IREN as "Outperform."

ChainCatcher news, according to The Block, IREN has recently performed strongly, with its stock price rising over 500% in the past six months, surpassing MARA to become the largest publicly traded Bitcoin miner.

However, this did not stop analysts at research and brokerage firm Bernstein from raising their price target more than three times on Wednesday, setting a new target of $75 per share, while maintaining an "outperform" rating—based on the expectation that its AI cloud business will achieve "exponential" growth.