Iris Energy
IREN · NASDAQ · Financial Services
$47.05
$1.45 (-3.09%) today
Market Cap
$18.54B
24h Volume
$1.5B
P/E Ratio
-6.4
52w High
$76.41
52w Low
$29.31
Est. AI Revenue
15%
7-Day Sparkline (Static)
Company facts
Performance
About Iris Energy
Iris Energy builds and operates data centers powered by renewable energy. It makes money from bitcoin mining, its original business, and increasingly from AI cloud services that rent GPU computing to customers.
Its AI offerings center on infrastructure: an AI GPU cloud that rents accelerated computing, high performance computing hosting for demanding workloads, and sustainable AI infrastructure built on sites chosen for cheap renewable power.
Founded in 2018 and headquartered in Sydney, Australia, Iris Energy trades on the NASDAQ and employs about 260 people.
Iris Energy in the AI buildout
Iris Energy sits in the Neoclouds layer of the AI buildout. Its playbook is conversion: take the renewable-powered sites originally built for bitcoin mining and turn them into GPU cloud capacity and AI data centers. Power is the scarce input in the buildout, and Iris controls a portfolio of it. The investment case now rests mostly on converting that power into contracted AI compute, with mining as the legacy business, which is why its AI exposure runs high.
IREN is tracked in Neoclouds, rated Strategic on the AI Exposure leaderboard.
By the numbers
52-week range
IREN trades at $47.05, 38% of the way up its 52-week range of $29.31 to $76.41.
Market cap
Market capitalization is $18.54B, with an AI Exposure Score of 65 out of 100.
Next earnings
Iris Energy is next expected to report earnings on November 5, 2026.
Market data as of the close on . Prices are end of day, not live.
Frequently asked questions
What does Iris Energy do?
Iris Energy operates renewable-powered data centers. It earns money from bitcoin mining, its original business, and from an AI GPU cloud that rents accelerated computing and hosting to customers.
How is Iris Energy exposed to AI?
Heavily and increasingly. The investment case rests on converting its renewable power portfolio into contracted AI compute and GPU cloud services. Supercycle rates it an AI Exposure Score of 65 out of 100.
What are Iris Energy's main AI products?
An AI GPU cloud renting accelerated computing, high performance computing hosting, and sustainable AI infrastructure built on renewable-powered data center sites.
Is IREN a pure play AI stock?
Not yet. Bitcoin mining remains the legacy business, but the growth story is AI data centers and GPU cloud built on its power sites. Its AI Exposure Score of 65 out of 100 reflects that transition.
Where is Iris Energy based and who leads it?
Iris Energy is headquartered in Sydney, Australia, and is led by CEO William Roberts. The company was founded in 2018 and employs about 260 people.
Profile written 2026-08, updated as the business changes. Editorial content, not investment advice.
Related reading
- Hyperscaler capex roundup: September 2026 · Seven AI builders spent $657B on capex over the last four quarters. The table, the 2026 guidance, what changed since the Q2 earnings round, and the power deals behind it.
- Neocloud stocks to watch: CRWV, NBIS, IREN, APLD · The four most-searched neocloud stocks read through the buildout tracker and the June 13F filings: who each one depends on, and what would change the picture.
- What are AI infrastructure stocks? The 12 layers, explained · AI infrastructure stocks are the companies paid to build AI compute: chips, memory, networking, data centers, cooling and power. The 12 layers and the catch.