{"id":"8dd69e9f-155a-495a-ad25-d311161e292c","name":"IREN","slug":"iren","description":"IREN (formerly Iris Energy) is a NASDAQ-listed operator of renewable-powered data centers, founded in Sydney in 2018, that has expanded from bitcoin mining into a large-scale NVIDIA GPU cloud. Its IREN AI Cloud rents H100, H200, B200, B300 and liquid-cooled GB300 NVL72 systems from campuses in Childress, Texas and British Columbia, and it holds Preferred NVIDIA Cloud Partner status. In November 2025 it signed a roughly $9.7B, five-year AI cloud contract with Microsoft and has announced GPU purchases toward a target fleet of about 150,000 GPUs.","status":"public","founded":2018,"hq":"Sydney, Australia","hqLat":-27.4689623,"hqLng":153.0235009,"hqGeocodedAt":"2026-08-23T21:04:15.050Z","hqAddress":null,"hqPrecision":null,"website":"irendering.net","fundingTotal":null,"type":"infrastructure","roles":["data_center_operator"],"reviewStatus":"reviewed","heatIndex":54,"lifecycleState":"active","supersededByCompanyId":null,"sources":[{"url":"https://irisenergy.gcs-web.com/news-releases/news-release-details/iren-secures-97bn-ai-cloud-contract-microsoft","title":"IREN Secures $9.7bn AI Cloud Contract with Microsoft","sourceName":"IREN (Investor Relations)","publishedAt":"2025-11-01"},{"url":"https://www.globenewswire.com/news-release/2025/08/28/3141102/0/en/IREN-Expands-AI-Cloud-to-10-9k-GPUs-with-NVIDIA-Preferred-Partner-Status-and-Additional-Financing-Secured.html","title":"IREN Expands AI Cloud to 10.9k GPUs, with NVIDIA Preferred Partner Status","sourceName":"GlobeNewswire","publishedAt":"2025-08-28"},{"url":"https://www.globenewswire.com/news-release/2026/08/27/3352401/0/en/iren-reports-fy26-results.html","title":"IREN Reports FY26 Results","sourceName":"GlobeNewswire","publishedAt":"2026-08-27"},{"url":"https://newsletter.semianalysis.com/p/clustermax-30-the-industry-standard","title":"ClusterMAX 3.0: The Industry Standard GPU Cloud Rating System Returns","sourceName":"SemiAnalysis","publishedAt":"2026-09-23"},{"url":"https://www.clustermax.ai/cloudreview/irenirisenergy","title":"IREN/Iris Energy Review: Underperforming Tier GPU Cloud (ClusterMAX)","sourceName":"ClusterMAX by SemiAnalysis","publishedAt":"2026-09-23"},{"url":"https://x.com/SemiAnalysis_/status/2102871810123383166","title":"SemiAnalysis announces ClusterMAX 3.0 on X","sourceName":"X (@SemiAnalysis_)","publishedAt":"2026-09-23"}],"keyFacts":[{"label":"Type","value":"GPU cloud / AI compute (bitcoin-mining origin)"},{"label":"Founded","value":"2018 (as Iris Energy)"},{"label":"Headquarters","value":"Sydney, Australia; operations in Childress, Texas and British Columbia"},{"label":"Listing","value":"NASDAQ: IREN (IPO 2021)"},{"label":"Founders","value":"Daniel & Will Roberts (Co-CEOs)"},{"label":"Compute","value":"NVIDIA H100 / H200 / B200 / B300 and GB300 NVL72; ~150,000-GPU target fleet"},{"label":"Partner status","value":"Preferred NVIDIA Cloud Partner"},{"label":"Anchor tenant","value":"Microsoft — ~$9.7B, 5-year AI cloud contract (Nov 2025)"},{"label":"Power capacity (planned)","value":"Childress, Texas 750 MW site (buildout); ~0.8 GW target 2027"},{"label":"GPU fleet (announced)","value":"~150,000 target"},{"label":"ClusterMAX 3.0 Underperforming (Sep 2026)","value":"SemiAnalysis ClusterMAX 3.0 rates IREN (Iris Energy) Underperforming for managed GPU cloud. Primary writeup cites March 2025 hands-on findings (ACS not disabled, GPU Direct RDMA not enabled, weak NCCL AllReduce vs reference) and says IREN claimed no capacity available to re-test for over 3 months in the 3.0 cycle. Digest had framed this as Canadian site reliability; that specific framing is not in the ClusterMAX IREN review we used, so this fact follows the SemiAnalysis primary instead. Analyst ranking; not IREN IR"}],"aliases":["Iris Energy","IREN Limited","Iris Energy Limited"],"collisionRisk":"low","reviewNote":null,"atsProvider":null,"atsSlug":null,"factoryLocations":null,"manufacturingCapacity":null,"orgType":null,"burnSignal":null,"litigationEvents":null,"insurancePostureDisclosed":null,"unitEconomicsDisclosed":null,"tickerSymbol":null,"stockExchange":null,"secCik":null,"revenueUsd":null,"revenueBasis":null,"revenueAsOf":null,"employeeCount":null,"employeeCountBasis":null,"employeeCountAsOf":null,"marketCapUsd":null,"marketCapAsOf":null,"marketCapSource":null,"createdAt":"2026-08-18T04:01:54.934Z","updatedAt":"2026-09-24T02:05:55.700Z","jsonLd":{"@context":"https://schema.org","@type":"Organization","@id":"https://registry.deploy.report/companies/iren","url":"https://registry.deploy.report/companies/iren","name":"IREN","alternateName":["Iris Energy","IREN Limited","Iris Energy Limited"],"description":"IREN (formerly Iris Energy) is a NASDAQ-listed operator of renewable-powered data centers, founded in Sydney in 2018, that has expanded from bitcoin mining into a large-scale NVIDIA GPU cloud. Its IREN AI Cloud rents H100, H200, B200, B300 and liquid-cooled GB300 NVL72 systems from campuses in Childress, Texas and British Columbia, and it holds Preferred NVIDIA Cloud Partner status. In November 2025 it signed a roughly $9.7B, five-year AI cloud contract with Microsoft and has announced GPU purchases toward a target fleet of about 150,000 GPUs.","identifier":"8dd69e9f-155a-495a-ad25-d311161e292c","foundingDate":"2018","address":"Sydney, Australia","publisher":{"@id":"https://deploy.report/#organization"}},"framework_metadata":{"framework_schema_version":"0.1.0","verification_status":"verified","maturity_stage":null,"lifecycle_state":null,"architectural_position":{"cohort":null,"sub_cohorts":[]},"within_cohort_verified_vs_claimed_pair":null,"cap_flags":[],"verification_depth":{"sources_count":6,"primary_source_types":["primary-company-ir"]}}}