Roth Capital analyst Darren Aftahi notes British Columbia is seeking to make new interconnect a more competitive process starting in 2026, including bidding and tranche availability. This includes a ban on new crypto mining and a focus on sovereign/local investment. The firm says Iren (IREN) shares may have been weak on this news, but this applies only to new power, with Iren’s 180MW unaffected and potentially giving the company a leg-up on new entrants given tighter constraints and competitive bidding process with seniority favoring sovereign projects. Roth has a Buy rating on the shares with a price target of $82.
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