- IREN’s co-founders, Dan and Will Roberts, have sold one million shares each, cashing out roughly US$33 million apiece after the company’s stock reached all-time highs.
- The stock’s recent rally, which has seen its share price climb 50% since September 8, follows the news that the company had purchased 9,000 Nvidia Blackwell chips to expand its AI data center services.
- The company, which has seen its market capitalisation soar beyond US$10 billion, reported a 168% increase in revenue for the fiscal year, with a net profit of US$86 million.
IREN co-founders Dan and Will Roberts sold one million shares each last week, cashing out about US$33 million (AU$49.5 million) apiece as the company’s stock reached record highs, according to filings with the US Securities and Exchange Commission.
The transactions come during a sharp rally in IREN’s share price, which has climbed 50% since September 8. The surge followed news that the Sydney-headquartered, Nasdaq-listed company had purchased roughly 9,000 Nvidia Blackwell chips to expand its AI-focused data center services.
The gains have lifted IREN’s market capitalisation beyond US$10 billion (AU$15 billion), making it the world’s most valuable publicly traded Bitcoin miner.
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The stock has surged over 350% in the past year, hitting new all-time highs. That rally has everyone at the edge of their seats, mostly because they’re trying to figure out if the valuation is stretched or if the bull run will continue.
The Roberts brothers retain significant holdings, each controlling approximately 6% of the company, as per Capital Brief.
IREN reported revenue of US$501 million (AU$766 million) for this fiscal year ending, and that’s a massive 168% increase year-on-year, alongside net profit of US$86 million (AU$131 million), with US$165 million (AU$252 million) in revenue generated during July and August alone.
Founded in 2018 as Iris Energy Limited, IREN initially focused on Bitcoin mining before expanding into renewable-powered data centers and AI infrastructure. Its operations are concentrated in North America, while its corporate headquarters remain in Australia.
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