IREN Limited closed a $363 million equipment financing transaction with Wingspire Equipment Finance to support its artificial intelligence compute business. The financing refinances recently acquired, revenue-generating AI infrastructure, including GPU-based servers and networking systems. A six-lender group participated, led by Eldridge Capital Management and Silver Point Capital.
The financing is secured by the equipment and backed by multi-year customer contracts. It returns a significant amount of capital to IREN by converting existing equipment investments into liquidity. IREN can redeploy the funds to expand as it scales to meet growing customer demand for high-density AI compute assets.