Brokerage Canaccord raised its price target for Bitcoin mining company Iris Energy to $15 and maintained a buy rating

Odaily News Iris Energy (IREN) is on track to become one of the most efficient and largest publicly traded bitcoin miners and will launch a pilot project for its high-performance computing (HPC) in Childress, Texas, in the second half of this year, brokerage Canaccord said in a research note on Tuesday. "The company will build 510 megawatts (MW) of data centers, acquire 2,160 MW of power capacity, and have a development pipeline of more than 1 gigawatt (GW) by 2024," analysts led by Joseph Vafi wrote. Canaccord raised its price target on the company to $15 from $12 while maintaining a buy rating. Iris Energy traded up 1.6% to $11.06 on the Nasdaq in early trading on Wednesday. (CoinDesk)