Two-thirds of backlog with investment-grade counterparties
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% - Yahoo Finance (-, news_article)
View cached copy (2026-11-10)Live source ↗
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 the investment-grade share of the backlog and the customer prepayments in new contracts 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://finance.yahoo.com/markets/stocks/articles/iren-falls-5-friday-20-145304917.html) in full (14,554 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% - Yahoo Finance
Quote: “Management has said that two-thirds of the backlog sits with investment-grade counterparties, and new contracts include large customer prepayments.”