Up to $250m net funding requirement during 2025
Company: IREN
What the later record shows
Outcome not yet confirmed
The passages show large financings (ATM proceeds and $2.3bn of convertible notes) but give no figure for the 2025 net funding requirement for the stated projects, so the forecast cannot be checked.
Checked October 15, 2026 against filings, releases and reporting published after the claim was made. Quotes are verbatim from the linked documents.
The claim, verbatim
IREN expects a net funding requirement of up to $250m during 2025 to fund expansion to 50 EH/s, completion of Horizon 1, and Sweetwater substation and development work.
Source (primary)
iren 8-K exhibit (q3fy25presentationvf.htm) (SEC EDGAR (8-K Ex), press_release)
View cached copy (2026-10-15)Live source ↗
Quote: “Up to $250m expected net funding requirement during 2025”
How we checked this
Checked on October 16, 2026. The cited source supports every part of this claim.
The capex and funding slide lists an up to $250m expected net funding requirement during 2025 for exactly these three uses.
Confirmed in the source:
- IREN expects a net funding requirement of up to $250m during 2025
- The funding is for expansion to 50 EH/s
- The funding is for completion of Horizon 1
- The funding is for Sweetwater substation and development work
What we did: Read our cached copy of SEC EDGAR (8-K Ex) (https://www.sec.gov/Archives/edgar/data/1878848/000187884825000043/q3fy25presentationvf.htm) in full (46,276 characters, retrieved October 15, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms iren 8-K exhibit (q3fy25presentationvf.htm)
Quote: “Up to $250m expected net funding requirement during 2025”