Bitcoin mining business model
Company: IREN
The claim, verbatim
Generates revenue through Bitcoin mining operations earning block rewards and transaction fees using specialized ASIC computing hardware, typically liquidated daily to fiat currency
Source (primary)
IREN 424B3 filed 2023-09-26 (SEC EDGAR, sec_filing)
View cached copy (2026-09-13)Live source ↗
Quote: “Our operations currently generate revenue by mining Bitcoin and earning Bitcoin revenue through a combination of block rewards and transaction fees from the operation of our specialized computers called ASICs”
How we checked this
Checked on September 21, 2026. The cited source supports every part of this claim.
The document establishes the mining model of block rewards and transaction fees via ASICs, and typically exchanging Bitcoin for fiat on a daily basis.
Confirmed in the source:
- Iris Energy generates revenue by mining Bitcoin through block rewards and transaction fees
- Mining is performed using specialized ASIC computers
- The Bitcoin mined is typically liquidated to fiat currency daily
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1878848/000114036123045182/ny20011264x1_424b3.htm) in full (233,579 characters, retrieved September 13, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms IREN 424B3 filed 2023-09-26
Quote: “Our operations currently generate revenue by mining Bitcoin and earning Bitcoin revenue through a combination of block rewards and transaction fees from the operation of our specialized computers called ASICs”