Company Overview - IREN Limited is part of the Oils-Energy group, which consists of 247 companies and is currently ranked 7 in the Zacks Sector Rank [2] - The Zacks Rank system identifies stocks with characteristics likely to outperform the market in the next one to three months, with IREN Limited holding a Zacks Rank of 2 (Buy) [3] Performance Metrics - IREN's full-year earnings estimate has increased by 28.6% in the past quarter, indicating improved analyst sentiment and earnings outlook [4] - Year-to-date, IREN has gained approximately 32.5%, significantly outperforming the average gain of 4.1% in the Oils-Energy group [4] Industry Context - IREN Limited is categorized under the Alternative Energy - Other industry, which includes 47 companies and is currently ranked 85 in the Zacks Industry Rank [6] - The Alternative Energy - Other industry has seen an average gain of 14.9% this year, with IREN performing better than this group [6] - In contrast, NextDecade, another stock in the Oils-Energy sector, belongs to the Oil and Gas - Production Pipeline - MLB industry, which is ranked 18 and has gained 3.1% this year [6] Future Outlook - Investors interested in Oils-Energy stocks should monitor IREN Limited and NextDecade for potential continued strong performance [7]

Q2 FY25 Results Presentation NASDAQ: IREN February 12, 2025 Forward-Looking Statements This investor update includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or IREN's future financial or operating performance. For example, forward- looking statements include but are not limited to the Company's business strategy, expected operational and financial results, and expected increase in po ...

Financial Data and Key Metrics Changes - The company reported a record net profit after tax (NPAT) of $18.9 million for Q2 FY '25, reflecting significant growth driven by low-cost Bitcoin production and operational efficiencies [6][54]. - Adjusted EBITDA increased by $60 million to $62.6 million, with the average operating hashrate rising from 12.2 exahash to 22.6 exahash [55]. - Bitcoin mining revenue reached $113.5 million, with operating cash flows of $53.7 million [54]. Business Line Data and Key Metrics Changes - The company is expanding its Bitcoin mining capacity from 31 exahash to a target of 50 exahash by mid-2025, with a revised target of 52 exahash due to the allocation of resources to the Horizon 1 project [7][17]. - The average net electricity cost per Bitcoin mined decreased from $35.4k to $21.4k, attributed to a transition to a spot pricing strategy [56]. Market Data and Key Metrics Changes - The company noted a significant power shortage in the U.S. data center market, with a 36 gigawatt shortfall, creating opportunities for IREN to leverage its secured grid-connected power [41][42]. - The demand for liquid-cooled data center capacity is increasing, particularly with the upcoming release of NVIDIA's Blackwell GPUs [10][23]. Company Strategy and Development Direction - IREN is focusing on expanding its AI data center capabilities with the Horizon 1 project, a 75-megawatt liquid-cooled facility, to capitalize on the growing market for AI and data center services [10][50]. - The development of Sweetwater 2, a new 600-megawatt site, aims to create a 2-gigawatt data center hub, enhancing the company's strategic position in West Texas [12][28]. - The company is prioritizing multi-tenant colocation at Childress while preserving Sweetwater for single-site opportunities, indicating a strategic approach to maximize asset utilization [51][52]. Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, citing increased interest from hyperscalers in large-scale data center campuses and the company's unique position to meet this demand [72][74]. - The management team acknowledged the risks associated with project developments but emphasized the materiality of the Sweetwater 2 project in the context of market dynamics [29][104]. Other Important Information - The company confirmed its transition to U.S. GAAP reporting starting in H2 2025, which will impact the accounting for its convertible notes and other financial instruments [60]. - IREN's balance sheet remains strong, with total assets increasing to approximately $1.9 billion, supporting future growth initiatives [59]. Q&A Session Summary Question: Update on Horizon 1 and CapEx - Management highlighted that existing data center architecture will help deliver liquid-cooled capacity at effective costs, with long lead items already ordered [63][66]. Question: Demand for Sweetwater 2 - Management noted that the demand for large data center campuses is realistic, with many hyperscalers interested in 1 gigawatt plus capacities [72][74]. Question: Challenges in Grid Connection - Management discussed the difficulties in securing grid connections, noting that the process has become more complex due to increased applications and limited utility resources [81][84]. Question: Construction Costs and Tariffs - Management indicated that while construction costs may rise due to tariffs, a diversified supply base mitigates risks [88][90]. Question: ROI Considerations for Horizon 1 - Management stated that the decision to build Horizon 1 was strategic, capitalizing on the growing demand for liquid-cooled data centers [97][99]. Question: Financing Options for Projects - Management confirmed that they are exploring multiple financing avenues, including project-level financing once customer contracts are secured [139].

Record Revenue, $53.7m Operating Cashflow, $18.9m NPAT 75MW Liquid-Cooled Childress Data Center for AI / HPC (“Horizon 1”) Developing New 600MW Sweetwater 2 Site SYDNEY, Feb. 12, 2025 (GLOBE NEWSWIRE) -- IREN Limited (NASDAQ: IREN) (together with its subsidiaries, “IREN” or “the Company”), today reported its financial results for the three and six months ended December 31, 2024. All $ amounts are in United States Dollars (“USD”) unless otherwise stated. “We are pleased to report our Q2 FY25 results with rec ...

Technical Analysis - IREN Limited (IREN) has surpassed resistance at the 20-day moving average, indicating a short-term bullish trend [1] - The 20-day simple moving average (SMA) is favored by traders for its ability to smooth out price fluctuations and provide trend reversal signals [1][2] Performance Metrics - IREN has moved 5.3% higher over the last four weeks, suggesting potential for further gains [3] - The company currently holds a Zacks Rank 2 (Buy), indicating positive market sentiment [3] Earnings Estimates - There have been no lowered earnings estimates for IREN in the past two months, with two estimates raised for the current fiscal year, leading to an increase in the consensus estimate [3][4] - The positive revisions in earnings estimates, combined with favorable technical indicators, suggest that IREN may experience additional gains in the near future [4]

SYDNEY, Feb. 06, 2025 (GLOBE NEWSWIRE) -- IREN Limited (NASDAQ:IREN) (together with its subsidiaries, "IREN" or "the Company"), today published its monthly update for January 2025. January Highlights On-track for 50 EH/s in 5 monthsInstalling direct-to-chip liquid cooling for AI / HPCAdvancing construction at 1.4GW Sweetwater ProjectProgressing multi-GW development pipeline Key MetricsJan 25Dec 24Nov 24    Bitcoin Mining   Average operating hashrate29.0 EH/s28.1 EH/s19.7 EH/sBitcoin mined1521 BTC529 BTC379 ...

SYDNEY, Feb. 03, 2025 (GLOBE NEWSWIRE) -- IREN Limited (NASDAQ: IREN) (together with its subsidiaries, "IREN") today announced that it will release its financial results for the three and six-months ended December 31, 2024, on Wednesday, February 12, 2025 and host a conference call beginning at 5:00 p.m. New York time. The webcast will be recorded, and the replay will be accessible shortly after the event at https://iren.com/investor/events-and-presentations Webcast and Conference Call Details Time & Date:5 ...

Shares of IREN Limited (IREN) have gained 1.5% over the past four weeks to close the last trading session at $10.09, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $20.55 indicates a potential upside of 103.7%.The mean estimate comprises 11 short-term price targets with a standard deviation of $4.08. While the lowest estimate of $15 indicates a 48.7% increase from the current p ...

SYDNEY, Jan. 07, 2025 (GLOBE NEWSWIRE) -- IREN Limited (NASDAQ: IREN) (together with its subsidiaries, “IREN” or “the Company”), today published its monthly update for December 2024. December Highlights Bitcoin MiningAI / HPC 3,984 Bitcoin mined in 2024529 Bitcoin mined in Dec$40m hardware profit in Dec150 EH/s on-track for H1 2025 1,896 NVIDIA H100 & H200 GPUsAdvancing negotiations for other AI / HPC opportunities Data CentersCorporate 510MW operating at month-end810MW on-track for H1 2025 31 EH/s year-e ...

On Track for 50 EH/s in H1 2025SYDNEY, Dec. 23, 2024 (GLOBE NEWSWIRE) -- IREN Limited (NASDAQ: IREN) (together with its subsidiaries, “IREN” or “the Company”) today announced it has reached its year-end target of 31 EH/s installed self-mining capacity, surpassing its original goal of 20 EH/s. Daniel Roberts, Co-Founder and Co-CEO of IREN, commented: “We’re proud to achieve 31 EH/s ahead of schedule, far exceeding the initial year-end target. This year began with just 20MW of operating data centers at Childr ...