On October 20, IREN Co-CEO Daniel Roberts responded to investor concerns about financing the company’s AI cloud expansion. He said the company’s data centers carry no debt and that construction has been funded with cash.
Customer prepayments cover 45% to 55% of GPU expenses on recent deals. Those deals have three-year terms.
IREN shares have faced sustained selling pressure and are trading near their 52-week low. Investors have been concerned about rising borrowing costs and the large capital expenditures required to build AI infrastructure. Roberts said the company’s contracts and financing structure help mitigate those risks.
Separately, Secure Asset Management LLC reportedly made a new $2.82 million investment in IREN during the third quarter.