Welcome to our dedicated page for IREN news (Ticker: IREN), a resource for investors and traders seeking the latest updates and insights on IREN stock.
IREN Limited reports developments in AI cloud infrastructure, large-scale data centers and GPU clusters for AI training and inference. Company updates cover managed GPU cloud services, customer contracts, NVIDIA platform deployments, hardware procurement, and the buildout of grid-connected data center capacity in renewable-rich regions.
Recurring IREN news also includes financial results, conference-call materials, site energization milestones such as Sweetwater 1, and capital actions including convertible notes and ordinary-share issuance programs. The company’s updates connect data center power availability, GPU deployment, customer workloads and capital funding to its vertically integrated AI cloud platform.
IREN (NASDAQ: IREN) intends to offer $875 million principal amount of convertible senior notes due 2031, with an initial purchaser option to purchase up to an additional $125 million (total up to $1.0 billion if exercised).
The notes will be senior, unsecured, pay semi-annual interest, be convertible under specified conditions, and callable by IREN beginning January 8, 2029. IREN expects to use proceeds to fund capped call transactions and for general corporate purposes.
Capped calls are intended to reduce dilution but will be cash-settled until shareholder approval; hedging by counterparties could affect IREN share price and conversion economics.
IREN (NASDAQ: IREN) signed additional multi-year AI cloud contracts for NVIDIA Blackwell GPU deployments and remains on track to exceed $500m annualized run-rate revenue (ARR) from a ~23,000 GPU deployment by end of Q1 2026. As of Oct 6, 2025, contracts cover 11,000 GPUs (~$225m ARR) expected in operation by end of 2025. New Blackwell GPUs average 2-year contract terms with pricing supporting ~2-year revenue payback. IREN cites >100k GPU campus capacity and 2,910 MW secured power and land across North America. The $500m ARR is illustrative and not fully contracted; achievement assumes on-time delivery and utilization.
Bakkt Holdings (NYSE: BKKT) has announced the appointment of Mike Alfred to its Board of Directors, strengthening its governance and strategic positioning in digital financial infrastructure. Alfred brings significant expertise as co-founder of BrightScope and Digital Assets Data (acquired by Strategic Insight and NYDIG respectively).
Currently serving as Founder and Managing Partner of Alpine Fox LP, a private investment fund focused on Bitcoin and AI-related equities, Alfred also holds board positions at IREN (NASDAQ), Eaglebrook Advisors, Wealthie, and Crestone Group. The appointment aligns with Bakkt's focus on four key trends: digital asset trading, stablecoin payments, AI agents, and Bitcoin.
IREN (NASDAQ: IREN) has announced a significant expansion of its AI Cloud capacity, doubling its GPU fleet to 23,000 GPUs through a $674 million procurement of additional 12.4k GPUs. The new order includes 7.1k NVIDIA B300s, 4.2k NVIDIA B200s, and 1.1k AMD MI350Xs.
The company has raised its AI Cloud annualized run-rate revenue (ARR) target to more than $500 million by Q1 2026. IREN's expanded infrastructure includes various GPU models across its British Columbia campuses, which can support over 60k Blackwell GPUs. The company notes increasing customer demand, with many seeking to contract capacity ahead of delivery.
IREN (NASDAQ: IREN) has appointed Anthony Lewis as its new Chief Financial Officer. Lewis, who joined the company in July 2025 as Chief Capital Officer, will maintain his oversight of capital markets strategy while taking on expanded responsibilities for financial operations, reporting, and strategic planning.
Lewis succeeds Belinda Nucifora, who is departing after 3.5 years as CFO. Prior to IREN, Lewis spent 22 years at Macquarie Group, where he served as Co-Treasurer managing global funding, liquidity, capital management, and regulatory reporting. The transition comes as IREN continues to expand its AI Cloud business.
IREN (NASDAQ: IREN) released its August 2025 monthly update, highlighting significant expansion in its AI Cloud and Bitcoin mining operations. The company is scaling its AI Cloud from 1.9k to 10.9k NVIDIA GPUs, with ~9k Blackwell GPUs scheduled for delivery at Prince George. IREN secured $200 million in non-dilutive GPU financing and achieved NVIDIA Preferred Partner status.
In Bitcoin mining, IREN maintained an average operating hashrate of 44.0 EH/s, mining 668 BTC with hardware profits of $50.8m and a 66% margin. The AI Cloud segment generated $2.4m in revenue with a 98% hardware profit margin. The company's expansion includes development across British Columbia (160MW), Childress (750MW), and Sweetwater (2,000MW) facilities, with capacity for over 60,000 GPUs across British Columbia campuses.
IREN (NASDAQ: IREN) reported exceptional financial results for FY25, with total revenue reaching a record $501.0 million, up 168% from FY24. The company achieved a net income of $86.9 million, compared to a net loss in FY24, while Adjusted EBITDA surged 395% to $269.7 million.
Operationally, IREN expanded its contracted grid-connected power to 2,910MW (+35%) and increased operating data center capacity to 810MW (+212%). The company's Bitcoin mining capacity grew to 50 EH/s (+400%) while AI Cloud capacity reached 1.9k NVIDIA GPUs (+132%). IREN secured NVIDIA Preferred Partner status and projects $200-250 million in annualized AI Cloud revenue with 10.9k GPUs by December 2025.
The company is advancing major expansion projects in British Columbia and Texas, including new liquid-cooled facilities for NVIDIA GB300 deployments and the Sweetwater Hub development.
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.