Added to YB: 2026-05-12
Pitch date: 2026-05-08
IREN [neutral]
IREN Limited
-15.99%
current return
Author Info
No bio for this author
Company Info
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.
Market Cap
$19.1B
Pitch Price
$54.97
Price Target
N/A
Dividend
N/A
EV/EBITDA
549.60
P/E
-21.84
EV/Sales
29.81
Sector
Software
Category
turnaround
IREN Q1 2026: Nvidia Partnership Established!
IREN (earnings): Q1 rev $144.8M (-21.6% Q/Q) missed est $219M on bitcoin-to-AI transition; AI Cloud rev $33.6M (+94.2% Q/Q). $3.4B/5yr Nvidia AI Cloud deal, $2.1B potential equity investment (warrants at $70/share). $3.1B ARR contracted of $3.7B CY26 target. Energized 1.4GW Sweetwater substation, acquired Mirantis for $625M (all-stock) for software stack, entered Spain (490MW). $247.8M net loss incl $140.4M impairment (decommissioned bitcoin miners), $23.7M derivative charge. $2.6B cash, raised $374.5M equity. Targeting 480MW/150K GPUs by end CY26. Construction on track; awaiting hyperscaler deals post-Sweetwater completion.
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