IREN Limited/$IREN
1D1W1M3M6MYTD1Y5YMAX
Capital at risk
About IREN Limited
IREN owns data centers powered by renewable energy in Canada and the US for bitcoin mining and AI cloud infrastructure. The company is in the process of converting its existing bitcoin capacity for AI purposes and securing new power and land supply to expand its data center operation. IREN works closely with industry leaders in AI, such as Microsoft, to support their cloud infrastructure ambitions.
- Ticker
- $IREN
- Sector
- Software & Cloud Services
- Primary listing
- NASDAQ
- Employees
- 685
- Headquarters
- Sydney, Australia
- Website
- iren.com
IREN Limited Metrics
BasicAdvanced
$15B
-
-$2.22
4.28
-
Price and volume
Market cap
$15B
Beta
4.28
52-week high
$76.87
52-week low
$28.93
Average daily volume
39M
Financial strength
Current ratio
3.551
Quick ratio
2.664
Long term debt to equity
1.802
Total debt to equity
1.873
Interest coverage (TTM)
-6.46%
Profitability
EBITDA (TTM)
34.7
Gross margin (TTM)
68.92%
Net profit margin (TTM)
-99.38%
Operating margin (TTM)
-53.57%
Effective tax rate (TTM)
0.86%
Revenue per employee (TTM)
$1,030,000
Management effectiveness
Return on assets (TTM)
-2.56%
Return on equity (TTM)
-23.41%
Valuation
Price to revenue (TTM)
17.3
Price to book
3.51
Price to tangible book (TTM)
3.84
Price to free cash flow (TTM)
-5.226
Free cash flow yield (TTM)
-19.13%
Free cash flow per share (TTM)
-7.403
Growth
Revenue change (TTM)
41.11%
Earnings per share change (TTM)
-669.88%
3-year revenue growth (CAGR)
110.77%
3-year earnings per share growth (CAGR)
-10.88%
What the Analysts think about IREN Limited
Analyst ratings (Buy, Hold, Sell) for IREN Limited stock.
Analyst projections of the future price of IREN Limited stock.
Bulls say / Bears say
AI Cloud is scaling quickly: FY26 revenue rose roughly eightfold to $128.8m, and quarterly AI Cloud revenue reached $70.5m, overtaking Bitcoin mining for the first time. IREN says 2026 capacity is largely sold out and contracted ARR has reached $4bn, with a growing customer base beyond Microsoft. (GlobeNewswire)
IREN has delivered and received acceptance for Horizon 1, the first 50MW deployment under its five-year Microsoft contract, and achieved NVIDIA Exemplar Cloud status on GB300 NVL72 systems. This provides early evidence that it can build and operate the specialised infrastructure needed for large AI workloads. (MarketScreener)
The funding structure can reduce the amount of shareholder capital needed for expansion: a $3.6bn investment-grade facility at 6% and Microsoft prepayments cover 96% of the associated GPU capex. IREN also reports contract pricing above $20m per IT megawatt and customer prepayments covering 45%–55% of recent GPU capex. (GlobeNewswire)
IREN plans $25bn–$30bn of FY27 capital expenditure, while management says about $14bn is currently covered and further funding is still required. Its recent equity raising and 45% year-on-year increase in shares outstanding show that dilution remains a material risk. (Seeking Alpha)
The headline $4bn contracted ARR is not yet equivalent to revenue: only about $1bn was operating as of late August, and the rest depends on construction, commissioning, testing and customer acceptance. Any delay to Horizons 2–4 could push expected cash generation into later periods. (TS2, GlobeNewswire)
The AI transition has not yet produced strong reported profitability: IREN posted a $702.6m FY26 net loss, including $638.8m of impairments, while adjusted EBITDA fell to $245.7m from $269.7m. Bitcoin mining still generated far more full-year revenue than AI Cloud, so the replacement business remains financially unproven. (GlobeNewswire)
Data summarised monthly by Lightyear AI. Last updated on 18 Sept 2026.
IREN Limited Financial Performance
Revenues and expenses
IREN Limited Earnings Performance
Company profitability
Upcoming events
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IREN Limited News
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Funds containing IREN Limited
AllEURGBPUSD
Fund name | Fund size | $IREN weighting |
|---|---|---|
VanEck Crypto And Blockchain Innovators€DAVV | €548M | 6.21% |
VanEck Crypto And Blockchain Innovators£DAGB | £635M | 6.21% |
Invesco CoinShares Global Blockchain£BCHS | £879M | 2.82% |
SPDR MSCI World Technology€WTCH | €1.1B | 0.05% |
SPDR MSCI World Technology£TECW | £923M | 0.05% |
Data displayed above is indicative only and its accuracy or completeness is not guaranteed. Actual execution price may vary. Past performance is not indicative of future results. Your return may be affected by currency fluctuations and applicable fees and charges. Capital at risk.
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