Jane Street entities report 4.7% IREN Ltd (IREN) ownership

Rhea-AI Filing Summary

IREN Ltd received an amended Schedule 13G/A from Jane Street entities reporting a sizable but sub-5% ownership position in its ordinary shares. Jane Street Group, LLC and its affiliates report beneficial ownership of 15,447,088.34 ordinary shares, representing 4.7% of the class.

This total includes 342,817.34 shares that Jane Street Global Trading, LLC can acquire within 60 days through convertible bonds. All voting and dispositive powers are described as shared, and the filer certifies the holdings are not for the purpose of changing or influencing control of IREN Ltd.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

IREN Ltd

(Name of Issuer)

Ordinary shares, no par value

(Title of Class of Securities)

Q4982L109

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. Q4982L109

1

Names of Reporting Persons

JANE STREET GROUP, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 15,447,088.34
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 15,447,088.34

9

Aggregate Amount Beneficially Owned by Each Reporting Person

15,447,088.34

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.7 %

12

Type of Reporting Person (See Instructions)

HC

Comment for Type of Reporting Person: The reported holding includes 342,817.34 shares acquirable within 60 days through holdings of convertible bonds held by Jane Street Global Trading, LLC. The "percentage of class" claculation is based on (1) 328,341,694 shares outstanding as indicated in the Prospectus published on December 4, 2025 following the issuance of 39,699,102 shares; and (2) 342,817.34 shares acquirable by Jane Street Global Trading, LLC through conversion of convertible bonds held, for a total of 328,684,511.3 shares outstanding.

SCHEDULE 13G

CUSIP No. Q4982L109

1

Names of Reporting Persons

Jane Street Capital, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 131,418.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 131,418.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

131,418.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.0 %

12

Type of Reporting Person (See Instructions)

BD

Comment for Type of Reporting Person: The "percentage of class" claculation is based on (1) 328,341,694 shares outstanding as indicated in the Prospectus published on December 4, 2025 following the issuance of 39,699,102 shares; and (2) 342,817.34 shares acquirable by Jane Street Global Trading, LLC through conversion of convertible bonds held, for a total of 328,684,511.3 shares outstanding.

SCHEDULE 13G

CUSIP No. Q4982L109

1

Names of Reporting Persons

Jane Street Options, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 11,910,731.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 11,910,731.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

11,910,731.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

3.6 %

12

Type of Reporting Person (See Instructions)

BD

Comment for Type of Reporting Person: The "percentage of class" claculation is based on (1) 328,341,694 shares outstanding as indicated in the Prospectus published on December 4, 2025 following the issuance of 39,699,102 shares; and (2) 342,817.34 shares acquirable by Jane Street Global Trading, LLC through conversion of convertible bonds held, for a total of 328,684,511.3 shares outstanding.

SCHEDULE 13G

CUSIP No. Q4982L109

1

Names of Reporting Persons

Jane Street Global Trading, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 3,404,939.34
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 3,404,939.34

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,404,939.34

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

1.0 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: The reported holding includes 342,817.34 shares acquirable within 60 days through holdings of convertible bonds held by Jane Street Global Trading, LLC. The "percentage of class" claculation is based on (1) 328,341,694 shares outstanding as indicated in the Prospectus published on December 4, 2025 following the issuance of 39,699,102 shares; and (2) 342,817.34 shares acquirable by Jane Street Global Trading, LLC through conversion of convertible bonds held, for a total of 328,684,511.3 shares outstanding.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: IREN Ltd
(b)	Address of issuer's principal executive offices: LEVEL 6, 55 MARKET STREET, LEVEL 6, 55 MARKET STREET, SYDNEY, AUSTRALIA, NSW 2000.
Item 2.
(a)	Name of person filing: Jane Street Group, LLC; Jane Street Capital, LLC; Jane Street Options, LLC; Jane Street Global Trading, LLC
(b)	Address or principal business office or, if none, residence: Jane Street Group, LLC 250 Vesey Street 6th Floor New York, NY 10281 Jane Street Capital, LLC 250 Vesey Street 6th Floor New York, NY 10281 Jane Street Options, LLC 250 Vesey Street 6th Floor New York, NY 10281 Jane Street Global Trading, LLC 250 Vesey Street 6th Floor New York, NY 10281
(c)	Citizenship: See Item 4 of Cover Page
(d)	Title of class of securities: Ordinary shares, no par value
(e)	CUSIP No.: Q4982L109
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 15,447,088.34
(b)	Percent of class: 4.7 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 15,447,088.34
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 15,447,088.34
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. Subsidiary Jane Street Capital, LLC Jane Street Global Trading, LLC Jane Street Options, LLC
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

JANE STREET GROUP, LLC

Signature:	/s/ Jeremy Kahn
Name/Title:	Jeremy Kahn (Authorized Signatory)
Date:	02/02/2026

Jane Street Capital, LLC

Signature:	/s/ Jeremy Kahn
Name/Title:	Jeremy Kahn (Authorized Signatory)
Date:	02/02/2026

Jane Street Options, LLC

Signature:	/s/ Jeremy Kahn
Name/Title:	Jeremy Kahn (Authorized Signatory)
Date:	02/02/2026

Jane Street Global Trading, LLC

Signature:	/s/ Jeremy Kahn
Name/Title:	Jeremy Kahn (Authorized Signatory)
Date:	02/02/2026

FAQ

What stake in IREN (IREN) do the Jane Street entities report in this Schedule 13G/A?

The Jane Street entities report beneficial ownership of 15,447,088.34 IREN ordinary shares, representing 4.7% of the outstanding class. This figure includes both existing share positions and shares acquirable within 60 days through convertible bonds held by Jane Street Global Trading, LLC.

How many IREN shares can Jane Street Global Trading, LLC acquire via convertible bonds?

Jane Street Global Trading, LLC can acquire 342,817.34 IREN ordinary shares within 60 days through holdings of convertible bonds. These convertible-related shares are included in the total 15,447,088.34 shares reported as beneficially owned across the Jane Street reporting group.

What percentage of IREN’s share class is used to calculate Jane Street’s 4.7% ownership?

The 4.7% figure is based on 328,341,694 IREN ordinary shares outstanding from a December 4, 2025 prospectus, plus 342,817.34 shares acquirable by Jane Street Global Trading, LLC, for a total of 328,684,511.3 shares used in the ownership calculation.

Do the Jane Street entities report any intent to influence control of IREN Ltd?

The filing explicitly states the securities were not acquired and are not held for the purpose of changing or influencing control of IREN Ltd. It also states they are not held in connection with any transaction aimed at achieving such control, aside from certain nomination activities.

Which Jane Street subsidiaries are identified as holding IREN shares in this filing?

The filing identifies Jane Street Capital, LLC, Jane Street Options, LLC, and Jane Street Global Trading, LLC as relevant subsidiaries. Each reports specific beneficial holdings and shared voting and dispositive powers, all consolidated under Jane Street Group, LLC’s aggregate 4.7% ownership disclosure.

What individual ownership does Jane Street Options, LLC report in IREN shares?

Jane Street Options, LLC reports beneficial ownership of 11,910,731 IREN ordinary shares, representing 3.6% of the class. All of these shares are listed with shared voting and shared dispositive power, with no sole voting or dispositive authority disclosed for this entity.