IREN
- Ticker
- IREN
- Beat
- datacenters
- Size
- Public Company
- Researched · Fresh
- 9 days ago
An AI-cloud landlord that finally delivered — Horizon 1 accepted by Microsoft on schedule, ~$4bn of 2026-capacity ARR contracted, $16.6bn of total contracted value — but the equity is the shock absorber: NVIDIA's '$70 stake' is an unexercised option IREN paid for inside its GPU cost, and every megawatt past 2026 needs new debt, converts or ATM stock.
2 mentions across our dossiers
“- New competitor names the 10-K now lists: Digital Realty, Equinix, plus IREN, Cipher, TeraWulf, Hut 8, Riot, CleanSpark, HIVE, Core Scientific, Bitdeer, Galaxy Digital, Fermi Inc., Keel Infrastructure, MARA.”Applied Digital · RIVAL · from Applied Digital’s dossier
Weekly closes
Who is buying
- Shares sold shortFINRA · settled 31 Aug 2026
- 93,610,835 shares
- Days to unwind the shortFINRA · settled 31 Aug 2026
- 2.06
Deals on the Ledger
| Announced | With | Type | Value | Source |
|---|---|---|---|---|
| 1 Jun 2026 |
| Loan against chips | $3.6B~$1.5B delayed draw term loan plus $2.1B of 5.96% senior notes due 2031-12-31. | IREN 8-K, 2026-06-01 |
| 7 May 2026 |
| Capacity contract | $3.4B | IREN 8-K Ex. 99.1 (Q3 FY26 results), 2026-05-07 |
| 3 Nov 2025 |
| Capacity contract | $9.7B | IREN 8-K, 2025-11-03 |
Every IREN deal on the Ledger — each one read against its source.
The research around IREN
Covered in the Knowledge Base
Datacenters & Digital Infrastructure
Company details
| Industry | Cloud Computing |
| Size | Public Company |
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5 namesWhere IREN sits against the other names we cover on this beat. Each line is that company’s verdict, not a summary of it.
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