IREN Ltd Stock Price, News & Analysis

IREN (NASDAQ: IREN) has achieved NVIDIA Preferred Partner status and expanded its AI Cloud infrastructure with a significant GPU acquisition. The company is purchasing 2.4k NVIDIA GPUs for approximately $168 million, including 1.2k air-cooled B300s and 1.2k liquid-cooled GB300s.

IREN secured $96 million in financing through a 24-month lease at a high single-digit interest rate to fund the GB300s purchase. The expansion will bring IREN's total GPU fleet to 10.9k NVIDIA GPUs. The new GPUs will be installed at the Prince George campus, which is constructing a 10MW liquid-cooled facility capable of supporting over 4.5k GB300s.

IREN (NASDAQ: IREN) has significantly expanded its AI computing capabilities by purchasing 4,200 NVIDIA Blackwell B200 GPUs for approximately $193 million. The company has also secured $102 million in financing for a previous Blackwell GPU purchase through a 36-month lease arrangement.

This expansion doubles IREN's GPU fleet to approximately 8,500 NVIDIA GPUs, including 800 H100s, 1,100 H200s, 5,400 B200s, and 1,200 B300s. The new B200s will be installed at IREN's Prince George campus, which has 50MW of total power capacity and can support growth to approximately 20,000 Blackwell GPUs.

IREN (NASDAQ: IREN) has scheduled the release of its fiscal year 2025 financial results for August 28, 2025, followed by a conference call at 5:00 p.m. Eastern Time. The company will host a Q&A session after presenting its results, with participants able to join via phone dial-in or webcast options.

IREN operates as a vertically integrated data center business focused on Bitcoin, AI, and computing applications, powered by 100% renewable energy. The company's infrastructure includes 2,910MW of grid-connected power across the U.S. and Canada, 810MW of operating data centers, and 50 EH/s of Bitcoin mining capacity. Their operations span three main verticals: Bitcoin Mining, AI Cloud Services, and AI Data Centers.

IREN (NASDAQ: IREN) reported strong performance in July 2025, achieving record monthly revenue of $86 million and hardware profits of $66 million. The company's Bitcoin mining operations reached an average hashrate of 45.4 EH/s, mining 728 BTC with a 76% hardware profit margin.

The company's AI Cloud expansion continues with 2.4k NVIDIA B200/B300 GPUs, with the initial B200 shipment already contracted. IREN's infrastructure development includes the 50MW Horizon 1 liquid-cooled AI data center on track for Q4'25 completion and progress on the 1,400MW Sweetwater 1 facility. The Mackenzie facility upgrade enhanced network redundancy with dual fiber paths.

[ "Record monthly revenue of $86 million and hardware profits of $66 million", "Bitcoin mining hardware profit margin increased to 76% with 728 BTC mined", "AI Cloud Services showing 98% hardware profit margin with $28M annualized run-rate revenue", "Successful procurement and contracting of initial 256 NVIDIA B200 GPUs", "Infrastructure expansion progressing with 50MW Horizon 1 and 1,400MW Sweetwater 1 developments", "Enhanced network redundancy with dual fiber paths at Mackenzie facility" ]

IREN (NASDAQ: IREN) reported significant achievements in June 2025, including record monthly revenue and hardware profit. The company reached its 50 EH/s mid-year target and expanded its AI Cloud infrastructure with approximately 2,400 Blackwell GPUs.

Key financial highlights include $65.5M in Bitcoin mining revenue with a 75% hardware profit margin, and $2.2M in AI Cloud Services revenue with a 98% margin. The company successfully completed a $550M convertible notes offering and transitioned to US domestic issuer status.

IREN's infrastructure expansion continues with 650MW total operating data centers at Childress, and development progress at Sweetwater 1 (1.4GW) and Sweetwater 2 (600MW). The company maintains strong operational metrics with a 41.1 EH/s average operating hashrate and mined 620 BTC in June.

[ "Record monthly revenue with $65.5M from Bitcoin mining and $2.2M from AI Cloud Services", "Successfully reached 50 EH/s mining target with strong 75% hardware profit margin", "Secured ~2,400 next-generation NVIDIA Blackwell GPUs for AI expansion", "Completed oversubscribed $550M convertible notes offering", "Achieved US domestic issuer status", "Maintains efficient operations with low 3.0c/kWh electricity costs at Childress" ]

IREN (NASDAQ: IREN) has announced a significant expansion of its AI Cloud capabilities with the purchase of 2,400 NVIDIA Blackwell GPUs for approximately $130 million. The order includes 1,300 B200 and 1,100 B300 GPUs, which will be installed at IREN's Prince George, BC campus.

This expansion increases IREN's total GPU fleet to 4,300 NVIDIA GPUs, combining the new Blackwell units with their existing 1,900 Hopper GPUs. The Prince George facility, with its 50MW of dedicated power, has the capacity to host over 20,000 Blackwell GPUs, providing significant room for future growth. The purchase is fully funded from existing cash, though IREN is exploring additional financing options to support AI Cloud Services growth.

IREN Limited (NASDAQ: IREN) has appointed Anthony Lewis as Chief Capital Officer, a newly created position focused on overseeing the company's capital markets strategy. Lewis, who brings over 20 years of experience from Macquarie Group where he served as Co-Treasurer, will lead IREN's capital structure and financing initiatives.

IREN operates as a vertically integrated data center business powered by 100% renewable energy, with operations spanning Bitcoin mining, AI Cloud Services, and AI Data Centers. The company's infrastructure includes 2,910MW of grid-connected power across more than 2,000 acres in the U.S. and Canada, 810MW of operating data centers, and 50 EH/s of installed Bitcoin self-mining capacity. Their AI capabilities include 1,896 NVIDIA H100 & H200 GPUs for cloud computing services, with plans to deliver up to 50MW (IT load) of liquid-cooled capacity for AI workloads in 2025.

IREN Limited (NASDAQ: IREN) has achieved its mid-year target of 50 EH/s installed self-mining capacity, marking a significant milestone in its Bitcoin mining operations. The company has scaled approximately 50x in just 30 months to become one of the world's largest and most efficient Bitcoin miners.

The achievement is anchored by IREN's 750MW Childress site, which currently supports 650MW of operating capacity. The company reported an all-in cash cost of $41,000 per Bitcoin in the last quarter, driven by 15 J/TH efficiency, scale, low-cost renewable energy, and vertical integration.

IREN is now pivoting towards AI infrastructure expansion, with Horizon 1, a 50MW liquid-cooled AI data center, scheduled for delivery in Q4 2025. The company maintains a flexible capital structure with convertible notes as the only non-equity financing, positioning itself for future growth in high-performance computing markets.

The company's business model features immediate revenue realization through daily Bitcoin sales, avoiding balance sheet exposure to price volatility. With its recent fleet refresh, IREN has minimized near-term mining hardware capital expenditure needs, maximizing free cash flow potential.

IREN has successfully closed an upsized convertible senior notes offering of $550 million, due 2029, with a 3.50% coupon rate and 30% conversion premium. The offering was oversubscribed and increased from the initial $450 million to $500 million, plus a $50 million greenshoe option. The company secured net proceeds of approximately $534.9 million after deducting costs. IREN will allocate $53.8 million for capped call transactions and $92.5 million for prepaid forward transactions, with the remainder for general corporate purposes. The capped call transactions, with an initial cap price of $20.98 per share (100% premium over the last sale price), are designed to reduce potential dilution and offset cash payments upon note conversion. The notes were offered privately to qualified institutional buyers under Rule 144A.