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Iris Energy ( (IREN) ) just unveiled an update.
On January 21, 2025, IREN Limited entered into a new sales agreement with several financial institutions to issue and sell ordinary shares worth up to $1 billion to support its corporate growth initiatives. The company is terminating its prior sales agreement and has already issued shares worth $993 million under the previous arrangement. With the new agreement, IREN aims to increase its Bitcoin mining capacity and expand data center operations, including the construction of a significant 1,400MW Sweetwater project. The announcement is expected to enhance IREN’s market position by lowering production costs and improving operational efficiency.
More about Iris Energy
IREN Limited, based in Sydney, Australia, operates in the data center and Bitcoin mining industry. The company focuses on expanding its data center capacity and enhancing its Bitcoin mining operations, leveraging advanced technologies such as direct-to-chip liquid cooling systems.
YTD Price Performance: 14.63%
Average Trading Volume: 16,988,102
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $2.35B
Learn more about IREN stock on TipRanks’ Stock Analysis page.
