IREN → $85.00 by Nov 30, 2026.

I’ll start by saying IREN is a second-tier compute seller, showing subpar execution both on construction and sales. However it’s also why it’s interesting. The penalty markets are putting on IREN and other second-tier compute sellers is simply too high given the assets they sit on. Let’s unpack this. Nvidia has given us forecasts that show demand growing 80% next year, showing AI infrastructure builds outs are accelerating. This is confirmed by hyperscaler CAPEX commitments and pretty much all ER …