Neocloud profile
IREN
IREN is an Australian-founded, Sydney-headquartered, Nasdaq-listed neocloud and bitcoin miner, with operating data centres in the United States and Canada and a planned 800MW campus in South Australia.
Founded: 2018. Headquarters: Sydney. Co-CEOs: Daniel Roberts and William Roberts. Ticker: NASDAQ:IREN.
Key figures
- Microsoft AI cloud services contract about US$9.7bn over five years
- About 5GW global pipeline targeted by 2028
- About 480MW AI cloud target by end 2026
Profile summary
| Field | Value |
|---|---|
| Listing | NASDAQ:IREN |
| Type | AI cloud, GPU-as-a-service and bitcoin miner |
| Data centres | Childress, Texas and British Columbia, Canada |
| Power | Childress has 750MW secured transmission; about 5GW global pipeline targeted by 2028 |
| AI cloud target | About 480MW and about 150,000 GPUs by end 2026, company target |
| Anchor contract | Microsoft AI cloud services contract of about US$9.7bn over five years |
Facilities and capacity
IREN's data centre footprint is in the United States and Canada, while the company is Australian-founded and Sydney-headquartered.
| Deployment | Location | Scale or scope | Status |
|---|---|---|---|
| Childress | Texas, United States | 750MW secured transmission | Operational and build-out |
| Sweetwater | West Texas, United States | 2GW campus under development | Planned |
| British Columbia sites | Canada | Renewable-powered AI cloud and bitcoin-mining footprint | Operational |
| Global pipeline | United States and Canada | About 5GW targeted by 2028 | Target |
Funding, contracts and investors
| Date | Round or agreement | Amount or scope | Counterparty |
|---|---|---|---|
| 3 Nov 2025 | AI cloud services contract | About US$9.7bn | Microsoft |
| 2026 | Associated financing | About US$3.65bn | Financing counterparties |
| 2026 | NVIDIA arrangement | About US$3.4bn AI cloud contract plus about US$2.1bn equity warrant | Disclosed terms |
Technology and platform
IREN combines GPU-as-a-service AI cloud operations with bitcoin mining.
The company locates capacity around large power campuses and renewable-powered North American sites by its account.
Leadership
| Name | Role |
|---|---|
| Daniel Roberts | Co-founder and co-CEO |
| William Roberts | Co-founder and co-CEO |
How IREN compares
| Company | Status or presence | Capacity or commitment | Model or program |
|---|---|---|---|
| Sharon AI | NASDAQ:SHAZ | Up to 54MW via NEXTDC | GPU cloud hosted in NEXTDC facilities |
| Firmus | Private, pre-IPO | Project Southgate up to ~400MW; ~1.6GW national plan by 2028 | Own immersion-cooled AI factories |
| IREN | NASDAQ:IREN | Planned 800MW campus at Bundey, SA; operating data centres in the US and Canada | Own North American data centres; Microsoft AI cloud |
Latest coverage
Frequently Asked Questions
What is IREN?
IREN is an Australian-founded, Sydney-headquartered AI cloud and bitcoin-mining company listed on Nasdaq.
Where are IREN's data centres?
IREN's disclosed data centres are in Childress, Texas and British Columbia, Canada, with Sweetwater in West Texas under development.
What is IREN's Microsoft deal?
IREN announced a five-year AI cloud services contract with Microsoft valued at about US$9.7bn by the company's account.
Does IREN still mine bitcoin?
IREN continues to describe itself as operating both AI cloud and bitcoin-mining infrastructure.
What is IREN's stock ticker?
IREN trades on Nasdaq under the ticker IREN.
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