IREN Limited operates in the vertically integrated data center business in Australia and Canada. The company owns and operates computing hardware, as well as electrical infrastructure and data centers. It also mines Bitcoin, a scarce digital asset that is created and transmitted through the operation of a peer-to-peer network of computers running the Bitcoin software. The company was formerly known as Iris Energy Limited and changed its name to IREN Limited in November 2024. The company was incorporated in 2018 and is based in Sydney, Australia.
Mining Powerhouse | Iris Energy's Bitcoin mining operations boast 28 EH capacity, with plans to nearly double by 2025, positioning it as a major player in the industry |
AI Ambitions Unfold | Explore Iris Energy's strategic pivot into AI and HPC, leveraging existing infrastructure to tap into high-growth tech sectors |
Financial Horizons | Analysts project EBITDA of $468 million for FY2026, with potential profitability this year and Bitcoin dividend prospects as early as 2025 |
Valuation Insights | Average analyst price target of $22, with BTIG and Cantor Fitzgerald setting targets up to $23, suggesting potential upside for investors |
Metrics to compare | IREN | Sector Sector - Average of metrics from a broad group of related Technology sector companies | Relationship RelationshipIRENPeersSector | |
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P/E Ratio | 193.0x | −7.3x | 12.0x | |
PEG Ratio | 0.82 | 0.03 | 0.01 | |
Price/Book | 9.2x | 1.9x | 2.4x | |
Price / LTM Sales | 33.5x | 6.5x | 2.4x | |
Upside (Analyst Target) | −26.2% | 2.9% | 14.6% | |
Fair Value Upside | Unlock | 7.8% | 3.0% | Unlock |