Overview
- Iren completed a $2.3 billion convertible note and equity offering in early December to help fund a planned $5.8 billion expansion.
- The company targets roughly 140,000 GPUs by the end of 2026, up from about 23,000 currently in operation.
- A $9.7 billion partnership with Microsoft grants dedicated access to Iren’s Nvidia GPU capacity through 2031, with about $1.9 billion in expected annual revenue.
- Iren cites control of approximately 2.9 to 3.0 gigawatts of secured, low‑cost renewable power to support rapid deployments at its Childress, Texas site.
- Trailing 12‑month revenue reached $689 million and the latest quarterly sales were $240 million, while the stock has pulled back roughly 39% from November highs.