Share this article
Bitcoin Miner Iris Rises as Compass Point Upgrades on Potential Boost in Hashrate
Compass Point’s analyst upgraded Iris’ stock to a buy recommendation from a neutral.
Updated May 11, 2023, 5:39 p.m. Published Sep 14, 2022, 2:52 p.m.
Shares of bitcoin miner Iris Energy (IREN) sharply rose Wednesday after research firm Compass Point upgraded its stock recommendation to buy from neutral.
Analyst Chase White said in a note to clients that IREN has potential to boost its contracted hashrate – and thus increase its bitcoin production – if the company can secure additional computing power at low cost, as it did with Bitmain in August.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
White also expects that if Iris can execute its strategy, its stock can trade at a premium versus other small-cap miners.
IREN was trading hands at $4.59 at press time, up nearly 8% on the day. Compass Point has a price target of $6.50/share.
Read more: Iris Energy Turns On 41 Megawatts of Bitcoin Mining Machines Ahead of Schedule
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
French Banking Giant BPCE to Roll Out Crypto Trading for 2M Retail Clients
The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq.
What to know:
- French banking group BPCE will start offering crypto trading services to 2 million retail customers through its Banque Populaire and Caisse d’Épargne apps, with plans to expand to 12 million customers by 2026.
- The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq, with a €2.99 monthly fee and 1.5% transaction commission.
- The move follows similar initiatives by other European banks, such as BBVA, Santander, and Raiffeisen Bank, which have already started offering crypto trading services to their customers.
Top Stories
