IREN Limited operates as a vertically integrated AI cloud services platform in Australia and Canada. It develops, owns, and operate data centers, including the associated land, grid connections, and substations, as well as buildings and cooling. The company also owns and operates compute layers, such as GPUs, CPUs, storage, servers, and networking deployed within that data center infrastructure; and software layers comprising managed services and enterprise support that enables customers to deploy, operate, and manage AI workloads. In addition, it is involved in Bitcoin mining. The company was formerly known as Iris Energy Limited and changed its name to IREN Limited in November 2024. IREN Limited was incorporated in 2018 and is based in Sydney, Australia.
| Horizon | Bear case (−1σ) | Base case | Bull case (+1σ) |
|---|---|---|---|
| 1 Month | $23.04 (-26.1%) | $31.18 | $42.19 (+35.3%) |
| 3 Months | $18.46 (-40.8%) | $31.18 | $52.65 (+68.9%) |
| 6 Months | $14.86 (-52.3%) | $31.18 | $65.42 (+109.8%) |
| 12 Months | $10.93 (-64.9%) | $31.18 | $88.92 (+185.2%) |