IREN Limited, formerly Iris Energy, was founded by brothers Daniel and Will Roberts and built low-cost, renewable-powered data centers in Australia, the US and Canada, originally to mine bitcoin. It has since pivoted much of that capacity toward AI, operating Nvidia GPU clusters and renting compute to AI developers as part of the fast-growing 'neocloud' and colocation trend. Its appeal is owning power, land and data-center shells outright; its risks are heavy capital spending, GPU-obsolescence and the volatility of both crypto and AI-lease demand.
CEO Daniel Roberts · Founded 2018 · Listed 2021.11 · HQ Sydney, Australia · Exchange NASDAQ · Website iren.com