IREN increases share offering program to $6 billion from $1 billion

Iris Energy Limited (NASDAQ: IREN) filed a new prospectus supplement to offer and sell up to $6 billion of its ordinary shares, replacing a previous $1 billion program, according to a company filing.

The company entered into an amended At Market Issuance Sales Agreement on August 28, 2025, with multiple sales agents including B. Riley Securities, Canaccord Genuity, Cantor Fitzgerald, Citigroup Global Markets, Compass Point Research & Trading, J.P. Morgan Securities, Macquarie Capital and Roth Capital Partners. Three additional agents - Citizens JMP Securities, Goldman Sachs and Jefferies - joined the agreement on March 4, 2026.

As of the filing date, IREN has sold 66,707,732 ordinary shares for $1 billion under the previous prospectus supplement, exhausting that program's capacity. The new $6 billion supplement became effective March 4, 2026.

The sales agreement allows IREN to offer shares through the sales agents acting as agent or principal. Share sales cannot exceed the lesser of the amount registered on an effective registration statement with an accompanying prospectus, or the amount authorized by the company's board of directors.

The ordinary shares are registered under the company's shelf registration statement on Form S-3. The agreement permits IREN to increase the share sale amount in accordance with the agreement's terms.

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