Broker Canaccord raises target price for mining company Iris Energy to $15

ChainCatcher news, broker Canaccord stated in a report that Iris Energy (IREN) is expected to become one of the most efficient and largest publicly listed Bitcoin mining companies, and will launch its high-performance computing (HPC) pilot project in Childress, Texas, in the second half of this year.

Canaccord raised the company's target price from $12 to $15 while maintaining a buy rating. In early trading on Wednesday, Iris Energy's stock price on Nasdaq rose 1.6% to $11.06.