The AI Infra MapFROM WATTS TO TOKENS

IREN

Sydney, AU · founded 2018
L4 · Compute Capacity Providersalso L0also L1
ex-crypto convertsincumbentpublic
Crypto heritage

IREN began as a bitcoin miner and now uses its energized sites for AI cloud and data center expansion. It is adding large blocks of GPU capacity while monetizing the underlying land and power base.

Ecosystem functionIREN is a renewable-powered crypto converter that now leans hard into AI infrastructure, differentiated by rapid scaling of contracted AI capacity.

Business modelAI cloud and site conversion

Revenue$757.08Mreported
Valuation$19.3Breported
Last round$2.6Bled by Convertible Senior Notes · 2026
Sources · 5 ↓
  1. https://iren.com/
  2. https://stockanalysis.com/stocks/iren/market-cap/
  3. https://public.com/stocks/iren
  4. https://www.marketbeat.com/articles/irens-28-billion-ai-contract-haul-changes-the-stocks-story/
  5. https://finance.yahoo.com/quote/IREN/
News
Suggest an editLast verified 2026-07-26
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