Iren

IREN is a bitcoin miner that is repositioning itself as an AI data-center company, and the pivot is the whole investment case. Founded in Australia and originally called Iris Energy, it builds and runs data centers powered entirely by renewable energy, using cheap, clean electricity to mine bitcoin at large scale. More recently it has moved into renting out GPU computing for AI workloads, betting that the same sites and power contracts that make bitcoin mining profitable can be turned toward the far larger AI-compute market. Based in Sydney and listed in the United States since 2021, IREN sits at the intersection of two of the market's most volatile themes: crypto and AI infrastructure. Its stock swings hard on the bitcoin price, on power costs, and on how convincingly it can prove that its mining operation can transform into a genuine AI cloud business.

On MyRWA, IREN trades tokenized across 25 on-chain venues - see the listings below.