IREN Limited

The company rebranded from Iris Energy to IREN in November 2024 as it scaled its AI infrastructure platform alongside its established mining business. IREN's colocation and managed GPU cloud services support NVIDIA Hopper and Blackwell platform hardware, with both air-cooled and liquid cooling configurations available for high-performance AI training and inference. Colocation offerings include rack-ready space, pre-installed networking, and 24/7 on-site support backed by a centralized remote operations command center.

IREN's operating data center portfolio totals 810 MW across four sites: Childress, Texas (650 MW), and three British Columbia, Canada campuses: Mackenzie (80 MW), Prince George (50 MW), and Canal Flats (30 MW). Childress carries an additional 100 MW under development, while Sweetwater 1 in Texas represents a 1,400 MW greenfield campus currently under construction. According to BitcoinMiningStock.io data as of December 31, 2025, IREN's operating hashrate was 43.00 EH/s against an installed hashrate of 46.00 EH/s, with BTC production of 554.67 BTC in December 2025, down from 728.00 BTC in July 2025. Q3 FY26 revenue for the three months ended March 31, 2026 was $144.8 million, with Bitcoin mining accounting for 91% of the total; adjusted EBITDA was $59.5 million.

On May 7, 2026, IREN announced a five-year, $3.4 billion AI cloud services contract with NVIDIA to provide managed GPU cloud services for NVIDIA's internal AI and research workloads, with orchestration and cluster management software developed in collaboration with Mirantis. The agreement is serviced by air-cooled Blackwell systems across approximately 60 MW at the Childress campus. Alongside the contract, NVIDIA was issued a five-year right to purchase up to 30 million IREN shares at $70 each (a potential $2.1 billion equity stake, subject to regulatory approval). The company's enterprise value stood at $19.44 billion as of May 8, 2026, according to BitcoinMiningStock.io data.

Also announced May 7, 2026, IREN agreed to acquire Ingenostrum, S.L. (Nostrum Group), a data center developer in Spain, marking its entry into the European market. The deal adds approximately 490 MW of secured, grid-connected power in Spain and expands IREN's total power portfolio to 5 GW. With Sweetwater 1 under construction and the Nostrum acquisition pending close, IREN is targeting $3.7 billion in annualized recurring revenue by year-end 2026.