21.0
EH/s
16.0
J/TH
0
439
22.1
95%
360
Description
IREN is a clean-energy digital infrastructure company and data center operator for Bitcoin mining and high-performance computing (“HPC”) workloads headquartered in Sydney, Australia with institutional campuses in the US and Canada. The Company specializes in securing high-capacity power interconnections to scale next-generation enterprise AI and cloud processing data hubs.
Level 12, 44 Market Street
Sydney, NSW 2000
Australia
+61 2 7906 8301
Sector(s): Financial Services
Industry: Capital Markets
Full Time Employees: 95
All estimated data and analysis provided by Power Analysis
Co-Founder and Co-CEO
Daniel has over 20 years’ experience across finance, infrastructure and renewables. He previously exited as the 2nd largest individual shareholder in infrastructure fund manager, Palisade Investment Partners (billions in AUM across 23 businesses) and, prior to that, worked with Macquarie Capital and PwC across Sydney and London. Daniel is currently on the board of JOLT, a Blackrock-backed EV charging business where he is also the 2nd largest individual shareholder. His Bitcoin journey began in 2013/14 when he bought high and sold low and then went on to co-found IREN with his brother, Will Roberts, in 2018.
Co-Founder and Co-CEO
Will has 13 years’ experience across resources, commodities and real assets. Will was Vice President at Macquarie Group in the Commodities & Global Markets division and involved in debt financing and principal investments across mining projects, as well as managing FX and commodity price risk. Will co-founded Macquarie’s Digital Assets team
Chief Legal Officer
Cesilia is a Senior Executive and Lawyer with 23 years’ experience across renewable energy, water, infrastructure, corporate governance and M&A. Cesilia has a strong track record in corporate strategy, major project development and approvals, policy, regulatory reform, governance and risk management. Cesilia was most recently Snowy Hydro Limited's Group Executive and General Counsel with a broad commercial and multi-disciplinary remit, including procurement, corporate affairs, regulatory strategy and legal. Prior to this Cesilia was in private practice at Allens Linklaters.
Chief Financial Officer
Belinda is a Chartered Accountant and experienced Chief Financial Officer with more than 25 years’ experience in the financial services and alternative asset management industries. She has previously held chief financial officer and senior finance roles in both listed and private companies, including Merrill Lynch, Alinta Energy, Challenger, Travelex, Slater & Gordon and Laser Clinics Australia.
Belinda has deep experience in financial and strategic business leadership, including leadership of successful growth companies both organically and through M&A activity. Belinda holds a Bachelor of Commerce degree and a Bachelor of Economics degree from the University of Queensland, Brisbane, Australia, and is a Graduate of the Australian Institute of Company Directors.
Chief Operating Officer
David has 30 years experience working across the energy, utilities and resources sectors in the Asia Pacific and North America. David is a strategic and operational leader with an extensive background in delivering a portfolio of projects and reliable operations. David was most recently SVP Asia Pacific East of Wood's Operations Division delivering multi-million dollar critical services to complex and diverse industries.
Chief Technology Officer
Denis Skrinnikoff has been the Chief Technology Officer of IREN since October 2021. Mr. Skrinnikoff is a technologist with more than 20 years’ experience in the cloud and data center service provider space. Mr. Skrinnikoff has an extensive networking background, as well as experience operating and architecting a national fiber network, with a specialty in enterprise architecture. He has been involved in the design, construction and management of tier 3 data centers, acquisitions and mergers, and managing business units in a publicly traded company.
Canal Flats, British Columbia (Canada)
260 MWMackenzie, British Columbia (Canada)
260 MWPrince George, British Columbia (Canada)
260 MWChildress County, Texas (USA)
260 MW
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- Driven by innovative strategies and the leadership of Kent Draper, leveraging his expertise in infrastructure, banking, and renewable energy.
- Vertically integrated operations across British Columbia and Texas address energy concerns while meeting booming demand in Bitcoin mining, AI, and HPC.
- The Sweetwater site in Texas highlights creative naming and strategic site development.
- Childress site expansion promises lower electricity costs, enhancing IREN's competitive edge in the mining industry.
- IREN is setting new standards in investor communication and transparency, including potential adoption of metrics like hash price and hash cost for clearer insights.
- Strategic partnerships with Bitmain and global hyperscalers, including major tech giants, underscore IREN’s market positioning despite recent tariff challenges.
- Targeting 50 exahash through expanded data center capacity and a potential pivot to HPC and AI applications.
- Flexibility to adapt infrastructure from Bitcoin mining to AI or HPC if more profitable.
- Exploring U.S. domiciling benefits and the potential for Bitcoin dividends by 2025 to attract retail investors and maximize shareholder value.
- Partnerships with hyperscalers leverage IREN’s expertise in building high-performance, power-dense data centers for AI-specific applications.
- Advancements in air-cooled capacity, robust networking solutions, and renewable energy integration position IREN as a leader in next-gen data infrastructure.
- Sweetwater’s 1.4 gigawatt site exemplifies IREN’s commitment to scalability and adaptability.
- Demand for H100 and H200 fleets and innovations like Blackwell GPUs highlight IREN’s technical edge.
- Focus on power infrastructure, supported by signed connection agreements, ensures readiness for future hyperscaler demand.
- A team with deep expertise in construction, renewable energy, and capital raising drives operational success.
- IREN is redefining the standards of cost efficiency, sustainability, and transparency in Bitcoin mining.
- Strategic foresight positions them to capitalize on emerging trends in AI, HPC, and blockchain technologies.
- The potential for Bitcoin dividends and expanded market engagement promises enhanced shareholder value.
- IREN exemplifies adaptability and forward-thinking strategies in a rapidly evolving digital economy.
- Insightful analysis of cost reduction, strategic partnerships, and growth plans provides a comprehensive look at IREN’s future.
- A must-listen for investors and enthusiasts keen on understanding the dynamics of Bitcoin mining and data center innovation.
We tour Iren’s Childress campus to see how power, cooling, and repeatable design create a mega-scale platform for Bitcoin mining today and HPC AI tomorrow. From grid ties and substation planning to closed-loop water and 20-year infrastructure, we map the strategy behind the Microsoft deal.
We break down IREN’s leap from top-tier bitcoin mining margins to a $10B Microsoft GPU-as-a-service contract, and how prepayments, Dell terms, and disciplined financing de-risk the build. The conversation spans GPU paybacks, ERCOT policy shifts, BC growth, and the balance between mining and AI.