[SCHEDULE 13G] IREN Limited SEC Filing

Rhea-AI Filing Summary

HANSAINVEST Hanseatische Investment-Limited Co has filed a Schedule 13G revealing beneficial ownership of 11,396,168 Iris Energy Ltd (IREN) ordinary shares as of 30 Jun 2025. The position equals 4.7 % of outstanding shares, placing the German investment-management company just below the 5 % threshold that would trigger a Schedule 13D.

The filing, made under Rule 13d-1(b), designates the stake as a passive investment. HANSAINVEST reports sole voting and sole dispositive power over the entire holding; no shared authority, group membership, or subsidiaries are cited. The shares are held for investment funds it manages, and German law grants the firm full authority to vote and dispose of the shares despite investors being their co-owners.

No acquisition prices, transaction dates, or prior ownership levels are provided. The certification confirms the shares were acquired in the ordinary course of business and not for the purpose of influencing control of IREN.

Positive

• Institutional support: HANSAINVEST holds 11.4 m IREN shares, reflecting continued fund-level confidence.
• Sole authority: Full voting and dispositive power allows swift execution of investment decisions.

Negative

• Sub-5 % stake: Limited influence on corporate actions and fewer disclosure requirements reduce transparency for investors.

Insights

Equity Analyst

TL;DR: Passive 4.7 % stake; neutral ownership signal with modest institutional support.

HANSAINVEST’s 11.4 m-share holding demonstrates continued institutional interest, but the sub-5 % level and 13G filing indicate no activist intent. Because voting and dispositive power are sole, the manager can act quickly, yet its influence is limited by size. Absent purchase price data or trend comparison, the disclosure is information-only and unlikely to materially move IREN’s valuation.

Corporate Governance Specialist

TL;DR: Governance impact minimal; no control ambitions disclosed.

The 13G confirms HANSAINVEST is a passive holder, reducing governance risk relative to an activist 13D. Its ability to vote 4.7 % of shares gives modest influence in tightly contested matters, but not enough to dictate outcomes. No group arrangements, control persons, or special rights are reported, supporting a neutral governance assessment.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Iris Energy Ltd

(Name of Issuer)

Ordinary Shares

(Title of Class of Securities)

Q4982L109

(CUSIP Number)

06/30/2025

(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

HANSAINVEST Hanseatische Investment-Limited Co

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

GERMANY

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 11,396,168.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 11,396,168.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

11,396,168.00

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)

4.7 %

12

Type of Reporting Person (See Instructions)

OO, FI

Comment for Type of Reporting Person: The shares are held for the account of investment funds managed by HANSAINVEST. Under German law HANSAINVEST is not the legal owner of these shares which are co-owned by the investors. However by operation of German law (Sec. 93 (1) KAGB) HANSAINVEST is authorized to exercise the ownership rights to vote the shares and has full dipositive power over the shares. The ownership information above is as of 30th of June 2025.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Iris Energy Ltd
(b)	Address of issuer's principal executive offices: LEVEL 6, 55 MARKET STREET, SYDNEY, AUSTRALIA, NSW 2000.
Item 2.
(a)	Name of person filing: Pascal Reyer
(b)	Address or principal business office or, if none, residence: Kapstadtring 8 22297 Hamburg Germany
(c)	Citizenship: German
(d)	Title of class of securities: Ordinary Shares
(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).
	German KVG (Investment Management Company)
Item 4.	Ownership
(a)	Amount beneficially owned: 11,396,168
(b)	Percent of class: 4.71 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 11,396,168
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 11,396,168
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	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.
	Not Applicable
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 acquired and are held in the ordinary course of business and 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. By signing below I certify that, to the best of my knowledge and belief, the foreign regulatory scheme applicable to Investment Management Company (KVG) is substantially comparable to the regulatory scheme applicable to the functionally equivalent U.S. institution(s). I also undertake to furnish to the Commission staff, upon request, information that would otherwise be disclosed in a Schedule 13D.

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.

HANSAINVEST Hanseatische Investment-Limited Co

Signature:	Pascal Reyer
Name/Title:	Director of Reporting
Date:	07/23/2025

FAQ

How many Iris Energy (IREN) shares does HANSAINVEST own?

The filing lists 11,396,168 ordinary shares.

What percentage of IREN’s outstanding shares does this represent?

The position equals 4.7 % of the class as of 30 June 2025.

Is HANSAINVEST’s stake passive or activist?

Filed on Schedule 13G under Rule 13d-1(b), the stake is passive with no intent to influence control.

Does HANSAINVEST have sole voting power over the shares?

Yes. The firm reports sole voting and dispositive power over all 11.4 m shares.

Why is Iris Energy’s Schedule 13G significant to investors?

It updates institutional ownership, showing a German fund manager controls 4.7 % of shares, which can affect liquidity and governance dynamics.