IREN Limited (IREN)

IREN Limited (IREN), formerly known as Iris Energy, is a leading next-generation data center operator that powers the future of Bitcoin mining and AI Cloud Services with 100% renewable energy, headquartered in Sydney, Australia. Led by Co-founders Daniel and Will Roberts, IREN’s strategic mission is to "build the world’s most sustainable digital infrastructure." The company holds a unique industry position as a "Dual-Engine" operator, utilizing its low-cost power contracts to run massive Bitcoin mining fleets alongside high-performance AI compute clusters. IREN’s vision is to be the premier "Power-to-Compute" platform, bridging the gap between volatile energy markets and the surging demand for AI. In late 2025, IREN stock has become a favorite for ESG-conscious tech investors, with the IREN stock price reflecting its transition into a diversified AI infrastructure giant with a market cap exceeding $12 billion.

The business operations of IREN are divided into Bitcoin Mining and AI Cloud. In fiscal 2025, the company achieved a record 50 EH/s (Exahashes per second) in mining capacity, making it one of the largest and most efficient miners globally following the 2024 halving. A primary growth driver is its "AI Cloud" segment, which reached an annualized revenue run rate of $250 million in late 2025, powered by a fleet of over 10,000 NVIDIA H100 and B200 GPUs. The 2026 strategic roadmap focuses on "Site Expansion," with the company developing 1.5GW of power capacity across its data centers in British Columbia and Texas. IREN holds a "Sustainable Energy Moat," as its 100% renewable mandate allows it to operate in jurisdictions where high-carbon competitors are restricted. By using its own proprietary software to toggle between Bitcoin mining and AI workloads based on real-time profitability, IREN maintains the highest utilization rates in the industry. For investors researching IREN stock, the company represents a unique "Hybrid Play," offering exposure to the decentralized finance of Bitcoin and the centralized intelligence of the AI revolution.

IREN Limited (IREN) is listed on the NASDAQ Global Select Market. For investors tracking IREN stock, the "Cost per Bitcoin Mined" and "AI Utilization Rates" are the primary indicators of operational health. The IREN stock price is sensitive to Bitcoin’s price volatility but is increasingly dampened by the steady, recurring cash flows from its AI Cloud business. For those monitoring IREN stock, the company’s 2025 performance proves that "Green Data Centers" are the essential infrastructure for the next decade of computing.