IREN
Renewable-powered data centres for AI cloud computing and bitcoin mining.
Public · NASDAQ:IREN- Sector
- AI
- Based in
- Sydney, Australia
- Founded
- 2018
- Invested
- Jun 2026
- Formerly
- Iris Energy
IREN builds and runs large data centres powered by renewable energy, at sites in Texas and British Columbia. It rents out Nvidia GPUs as an AI cloud for training and running AI models, and uses the rest of its capacity to mine bitcoin.
It began as a bitcoin miner built around cheap renewable power, and has shifted towards AI, including a multi-year AI cloud contract with Microsoft announced in 2025.
Brothers Daniel and Will Roberts founded the company in Sydney in 2018 as Iris Energy. It listed on the Nasdaq in 2021 and renamed itself IREN in 2024.
From the notebook
All notesBig mover
IREN falls 42pc from its high even as revenue jumped 41pc
IREN shares are down 45.4% from their 52-week high and slid another 11.7% this week. The FY26 results on 27 August showed revenue up 41% to $707 million but a $684 million net loss and a warning of $25-30 billion in 2027 capex. Analysts at Redburn then started the neocloud group at Neutral, dragging IREN down with CoreWeave and Nebius even as JPMorgan raised its own target to $65.
Written by AI from share prices, the companies' posts and the news. Can be wrong; not financial advice.
Latest on X
@IREN_Ltd- IREN@IREN_Ltd · 28 SeptJoin IREN Chief Innovation Officer John Gross at #Yotta2026.
AI workloads demand denser racks while power limits how much new capacity can be built. John joins industry leaders to discuss how to design AI factories for that density and how to get more usable compute from every watt in existing facilities.
Panel 1: Monday, September 28, 9:20–10:00am PDT
Designing the AI Factory: How Dense Can We Really Go?
Session Link: https://www.yotta-event.com/designing-the-ai-factory-how-dense-can-we-really-go/
Panel 2: Wednesday, September 30, 7:30–8:20am PDT
Tokens per Watt: Efficiency as the Fastest Path to AI Capacity
Session Link: https://www.yotta-event.com/tokens-per-watt-efficiency-as-the-fastest-path-to-ai-capacity---meal-seating-limited-to-first-100-participants/
📍 Yotta 2026, Caesars Forum, Las Vegas
1827365 - IREN@IREN_Ltd · 26 SeptJoin IREN Chief Commercial Officer Kent Draper at #Yotta2026 for his keynote conversation on the 'Future of Compute' track.
📅 Wednesday, September 30, 10:30–10:45am PDT
📍 Yotta 2026, Caesars Forum, Las Vegas
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