Bitmain May 2024 Agreement option miners balance due October 2025
Company: IREN
What the later record shows
Outcome not yet confirmed
The 10-K says most option miners were delivered and $79.7 million was still due to Bitmain in fiscal 2026. No passage says whether the specific $119.3 million balance for the 47,980 option miners was paid by October 2025.
“Another $79.7 million in contractual payments is due to Bitmain in fiscal year 2026.”
2025-08-27 · IREN 10-K filed 2025-08-28 View cached copy (2026-08-31)Live source ↗
“The majority of miners have been delivered as of June 30, 2025.”
2025-08-27 · IREN 10-K filed 2025-08-28 View cached copy (2026-08-31)Live source ↗
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
The remaining $119.3 million owed to Bitmain for the additional 47,980 option miners under the May 2024 Agreement is due by October 2025.
Source (primary)
iren 8-K exhibit (irenlimited-exx994mar2025.htm) (SEC EDGAR (8-K Ex), press_release)
View cached copy (2026-10-15)Live source ↗
Quote: “$119.3 million for the purchase of the additional 47,980 miners is due by October 2025”
How we checked this
Checked on October 16, 2026. The cited source supports every part of this claim.
The filing states that IREN exercised the option for 47,980 additional miners under the May 2024 Agreement and that $119.3 million for them is due by October 2025.
Confirmed in the source:
- A remaining balance of $119.3 million is owed to Bitmain for an additional 47,980 miners
- The 47,980 miners are option miners exercised under the May 2024 Agreement with Bitmain
- The balance is due by October 2025
What we did: Read our cached copy of SEC EDGAR (8-K Ex) (https://www.sec.gov/Archives/edgar/data/1878848/000187884825000043/irenlimited-exx994mar2025.htm) in full (129,213 characters, retrieved October 15, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms iren 8-K exhibit (irenlimited-exx994mar2025.htm)
Quote: “$119.3 million for the purchase of the additional 47,980 miners is due by October 2025”