Bernstein analysts have rated IREN Limited as 'outperform', highlighting its strategic position in AI infrastructure and Bitcoin mining. The company boasts a 3 gigawatt power generation capacity in North America and recently acquired NVIDIA Blackwell, enhancing its AI capabilities. Bernstein projects IREN's revenue to rise from $28.6 million in 2024 to $210 million by 2027, with AI driving over half of this growth. Additionally, IREN's Bitcoin mining operations are expected to generate $1.1 billion in annualized revenue. The company's stock reached a record high of $69.20 on October 10, marking an 800% increase over the past year, with a maintained price target of $75.