IREN Limited

(AI video summary)

This video was created on 9 October 2025 for IG audiences by ausbiz.

NASDAQ code: IREN

IREN sees growth as it expands AI and cloud services

IREN Limited  is expanding its artificial intelligence (AI) business with new AI data centre contracts expected to boost revenues. To support this growth, IREN has ordered 11,000 graphics processing units (GPUs) from NVIDIA to enhance its computing capacity. The company powers its data centres with renewable energy and plans to raise US$1.5 billion to further expand operations. The share price has climbed significantly this year.

From bitcoin mining to cloud computing

Originally a Bitcoin mining company using clean energy, IREN is repositioning itself in the AI data centre space. While still a bitcoin miner, the cloud segment has grown from US$3 million last year to US$16 million in the past 12 months, with expectations of reaching US$200 to US$250 million in annual revenue.

IREN is pivoting to cloud computing due to challenges in bitcoin mining. It is notable for its financial stability, holding approximately US$560 million in cash and US$960 million in debt. Upgrading its GPU capacity by 11,000 units by the end of 2025 is expected to achieve a 68% profit margin and make the company cash flow positive by 2025.

Investment outlook

Collaboration with NVIDIA positions IREN as a significant player in the GPU arena. NVIDIA's investments in similar companies underscore the growth potential in liquid-cooled data centre technology. IREN seeks to secure long-term agreements to bolster profitability and growth.