IREN Ltd. (NASDAQ: IREN) shares fell nearly 43% over the past month. They hit a 52-week low of $26.62.
The decline has been attributed to execution concerns, shrinking earnings estimates, and the high capital expenditure required for IREN’s shift from Bitcoin mining to AI cloud services.
Some Wall Street analysts remain optimistic. Bernstein maintains a $100 price target, implying potential upside of nearly 300%.
That bullish outlook is based on IREN’s move into AI infrastructure, including major contracts with Microsoft and NVIDIA and a growing 5-gigawatt power portfolio. The contrasting views reflect a divide between near-term financing and execution risks and the company’s longer-term potential in the AI cloud sector.