Investment-grade share of backlog
Company: IREN
The claim, verbatim
Management said two-thirds of the backlog sits with investment-grade counterparties, and new contracts include large customer prepayments.
Source (primary)
IREN Falls 5% After Friday's 20% Surge as AI Lending Worries Mount; TeraWulf and Applied Digital Rise 2% - 24/7 Wall St. (-, news_article)
View cached copy (2026-11-10)Live source ↗Archive.org ↗
Quote: “Management has said that two-thirds of the backlog sits with investment-grade counterparties, and new contracts include large customer prepayments.”
How we checked this
Checked on November 11, 2026. The cited source supports every part of this claim.
The article attributes both statements to IREN's management.
Confirmed in the source:
- IREN management said two-thirds of the backlog sits with investment-grade counterparties
- IREN management said new contracts include large customer prepayments
What we did: Read our cached copy of the publisher (https://247wallst.com/investing/2026/11/09/iren-falls-5-after-fridays-20-surge-as-ai-lending-worries-mount-terawulf-and-applied-digital-rise-2/) in full (12,733 characters, retrieved November 10, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms IREN Falls 5% After Friday's 20% Surge as AI Lending Worries Mount; TeraWulf and Applied Digital Rise 2% - 24/7 Wall St.
Quote: “Management has said that two-thirds of the backlog sits with investment-grade counterparties, and new contracts include large customer prepayments.”