Strategic Horizons | Learn about Iris Energy's innovative plans for its 1.4 GW Texas site, including potential asset sales and joint ventures to unlock significant equity value. |
Financial Forecast | Explore projections of substantial growth, with analysts estimating EBITDA of $468 million for FY2026 and an average price target of $22.00. |
Beyond Bitcoin | Delve into Iris Energy's strategic pivot towards AI and HPC services, offering new revenue streams and reducing dependence on cryptocurrency volatility. |
Mining Powerhouse | Iris Energy's Bitcoin mining efficiency and ambitious expansion plans position it as a top-tier player, with aims to increase hash rate to 50 EH/s in four months. |

Metrics to compare | IREN | Sector Sector - Average of metrics from a broad group of related Technology sector companies | Relationship RelationshipIRENPeersSector | |
|---|---|---|---|---|
P/E Ratio | −19.7x | −4.9x | 12.0x | |
PEG Ratio | 0.03 | 0.00 | 0.01 | |
Price / Book | 3.3x | 5.0x | 2.4x | |
Price / LTM Sales | 19.6x | 9.4x | 2.3x | |
Upside (Analyst Target) | 122.0% | 134.2% | 32.7% | |
Fair Value Upside | Unlock | −16.3% | 5.4% | Unlock |
IREN Limited operates as a vertically integrated AI cloud services platform in Australia and Canada. It develops, owns, and operate data centers, including the associated land, grid connections, and substations, as well as buildings and cooling. The company also owns and operates compute layers, such as GPUs, CPUs, storage, servers, and networking deployed within that data center infrastructure; and software layers comprising managed services and enterprise support that enables customers to deploy, operate, and manage AI workloads. In addition, it is involved in Bitcoin mining. The company was formerly known as Iris Energy Limited and changed its name to IREN Limited in November 2024. IREN Limited was incorporated in 2018 and is based in Sydney, Australia.