IREN Ltd

IREN Limited announced the appointment of Kambiz Aghili as Chief Product Officer and Michael Nudelman as Chief Development Officer. Mr. Aghili will lead the product strategy for IREN's AI Cloud platform, bringing experience from Oracle Cloud Infrastructure. Mr. Nudelman will oversee global data center development and expansion, leveraging his extensive background from companies like Google. These appointments are expected to strengthen IREN's AI Cloud platform and support its growth.

IREN Limited's Board of Directors approved the grant of 9,099,328 restricted stock units (RSUs) to each of its Co-Chief Executive Officers, William Roberts and Daniel Roberts. These Equity Grants are subject to a combined six-year vesting and holding period, with no further equity grants planned until fiscal year 2031. The grants are designed to retain and incentivize the Co-CEOs, aligning their interests with long-term shareholder value creation, and were approved after a comprehensive analysis by independent directors and compensation consultants.

IREN Limited announced its inclusion in the Russell 1000 Index, effective after market close on June 26, 2026. This addition is considered a significant milestone for the company, reflecting its continued expansion of U.S. operations and customer base. The Russell 1000 Index tracks approximately 1,000 of the largest U.S. companies by market capitalization, serving as a key benchmark for large-cap stocks. IREN operates as a vertically integrated AI Cloud provider.

IREN Limited has completed the acquisition of Ingenostrum, S.L. (Nostrum Group), a Spanish developer of grid-connected AI data centers. This strategic move marks IREN's entry into the European market, adding approximately 490MW of secured power in Spain and a development pipeline. The acquisition also brings a team of over 50 people, establishing a strong foundation for IREN to address the rapidly growing AI Cloud demand across Europe.

IREN Ltd. announced the signing of a transmission connection agreement to support a planned 800MW data center campus in Bundey, South Australia. This marks the company's first Australian data center project, strategically positioned to serve the rapidly growing AI demand in the Asia-Pacific region. The site will leverage South Australia's target of 100% net renewable energy by 2027 and offers submarine fiber connectivity to major regional demand centers. The project is expected to commence energization from 2028 and create over 700 jobs.

IREN Ltd's wholly owned subsidiary, IE US Hardware 3 LLC, has secured approximately $3.6 billion in financing agreements. This includes a $1.5 billion delayed draw term loan facility and $2.1 billion in 5.96% senior notes due December 31, 2031. The financing is intended to partially fund the acquisition of GPU infrastructure and other costs to support Hardware 3's agreement with Microsoft Corporation to provide dedicated GPU services. The obligations are secured by Hardware 3's assets, including the acquired GPUs and cash flows from the Microsoft contract, with limited guarantees from IREN Ltd.

IREN Limited announced it has closed a $3.65 billion investment-grade GPU financing facility to support its AI Cloud contract with Microsoft. The facility, comprising a $2.10 billion U.S. private placement and a $1.55 billion delayed draw term loan, has a blended cost of debt of 6.00%. It funds approximately 96% of the $5.81 billion GPU capital expenditure for the Microsoft contract at an average financing cost of 3.31%, strengthening IREN's capital structure for its expansion to 480MW of AI Cloud capacity by end of 2026.

IREN Limited announced that its wholly-owned subsidiary, IE US Hardware 4 Inc., entered into a purchase agreement with Dell Marketing L.P. for approximately $1.6 billion. This agreement secures air-cooled Blackwell GPUs and related services, which will be deployed at IREN's Childress, Texas campus by early 2027 to service its $3.4 billion managed services AI cloud contract. This strategic investment is expected to boost IREN's annualized run-rate revenue from $3.7 billion to $4.4 billion upon commissioning.

IREN Limited announced a purchase agreement with Dell for approximately $1.6 billion to acquire air-cooled Blackwell systems. These systems are intended to service IREN's previously announced five-year, $3.4 billion managed services AI cloud contract. The deal is expected to increase IREN's annualized run-rate revenue (ARR) from $3.7 billion to $4.4 billion upon commissioning, which is targeted for early 2027 at its Childress, Texas campus. The agreement covers GPUs, servers, storage, networking, and related services, with payment terms structured post-shipment.

IREN Limited announced the acquisition of Awaken, a creative and media agency that previously served as IREN's external marketing partner. As part of the transaction, Awaken will cease independent operations, and its senior team, including Founder and CEO Chris Parker, will join IREN to lead its brand and marketing strategy. This move aims to strengthen IREN's brand awareness and customer engagement as it expands across North America, Europe, and APAC.