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IREN

IREN: recorded financings, named counterparties and project connections in the InfraCompute research register.

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Research profile

The register contains 11 financing and capital observations associated with IREN, with recorded event dates from 2024-12-06 to 2026-08-27. The observations cover cloud and corporate, GPU compute. These records describe historical disclosures and may include amendments, packages and components of the same financing.

Primary activities represented
Cloud and corporate; GPU compute
Business models in recorded context
neocloud
Recorded currencies
USD
Named project connections
2

IREN in the contract library

The contract library quotes 38 extracts from five contracts IREN signed, across 15 clauses: what was agreed before, beside what the rest of the market signed.

Financing history

Connected developments and programmes

Named counterparties

Selected sources

  1. IREN FY25 Form10-K, GPU equipment leases and Note24Source date: 28 August 2025
  2. Inherited source link
  3. IREN Purchases4.2k NVIDIA Blackwell GPUs & Secures FinancingSource date: 25 August 2025
  4. IREN Closes$1.0bn Convertible Notes OfferingSource date: 14 October 2025
  5. IREN Form10-Q, period ended December31 2025, Hardware PurchasesSource date: 5 February 2026
  6. IREN Closes $3.0 Billion Convertible Notes OfferingSource date: 14 May 2026
  7. IREN Microsoft GPU financing Form 8-KSource date: 29 May 2026
  8. IREN SEC-hosted FY26 results releaseSource date: 27 August 2026

About this record

Compiled from the announcements and filings linked on each financing. Roles are as disclosed; a named arranger, agent or trustee may not hold the debt. Methodology · Send a correction.

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Filed documents

11 documents behind these financings are filed on SEC EDGAR. Governing law across them: Washington law (1), Delaware law (1), New York law (1).

DealFiled documentDatedGoverning lawIn InfraCompute
IREN / Microsoft Childress GPU financing8-K: DDTL + senior notes under Common Terms Agreement29 May 2026––
IREN / Microsoft Childress GPU financingHardware 3 Credit Agreement (10-K Ex 10.35)29 May 2026––
IREN / Microsoft Childress GPU financingHardware 3 Note Purchase Agreement (10-K Ex 10.36)29 May 2026––
IREN / Microsoft Childress GPU financingHardware 3 Common Terms Agreement (10-K Ex 10.37)29 May 2026–Quoted: Minimum DSCR covenant · Quoted: Loan sizing: advance rate and sizing DSCR · Quoted: GPU depreciation in the loan documents
IREN / Microsoft Childress GPU financingLimited Parent Guarantee (Remarketing Right) (10-K Ex 10.38)29 May 2026–Quoted: Springing and limited parent guarantees · Quoted: Springing and limited parent guarantees · Quoted: The guarantee in the SPV’s bankruptcy
IREN / Microsoft Childress GPU financingLimited Parent Guarantee (Managed Services Agreement) (10-K Ex 10.54)29 May 2026––
IREN / Microsoft Childress GPU financing8-K: Microsoft GPU services agreement + Dell purchase agreement (summary; investor deck Ex 99.2)2 November 2025––
IREN / Microsoft Childress GPU financingPartner Statement of Work: IE US Hardware 3, Microsoft, Dell (10-Q Ex 10.3)2 November 2025Washington lawQuoted: Customer step-in to the financing · Quoted: Customer termination rights · Quoted: Customer termination rights
IREN / Microsoft Childress GPU financingDell purchase agreement, IE US Hardware 3 (10-Q Ex 10.4)2 November 2025Delaware lawQuoted: Non-cancellable orders, tied to the customer contract · Quoted: Delivery by phase, and the delays the supplier is excused for · Quoted: When title passes, and the quarter-end shipping rule
IREN / Microsoft Childress GPU financingDell NCNR and supplemental terms, IE US Hardware 3 (10-Q Ex 10.5)2 November 2025–Quoted: Non-cancellable orders, tied to the customer contract · Quoted: Non-cancellable orders, tied to the customer contract · Quoted: Delivery by phase, and the delays the supplier is excused for
Convertible notesConvertible Note Purchase Agreement (EX-10.1)24 June 2024New York law–
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