Iris Energy Limited

NASDAQ Global Select
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Bullish +72

IREN appoints Eric Hammersley as chief information security officer

👤 Eric Hammersley appointed as Chief Information Security Officer with over 20 years of experience securing cloud platforms.

🛡️ New CISO will manage security for physical infrastructure, computing systems, and software stack across data centers.

💻 IREN doubled AI Cloud capacity to ~23,000 GPUs via a $674M order from NVIDIA (B300/B200) and AMD (MI350X).

📈 Company targets illustrative AI Cloud annualized revenue run rate exceeding $500M by Q1 2026.

⚡ Oklahoma campus expansion planned at 1.6GW, scheduled to receive power in 2028.

🔋 Total secured grid-connected power portfolio now exceeds 4.5GW including BC Hydro connection.

🏭 Prince George facility in British Columbia will stage part of the expanded GPU fleet for AI compute.

🤝 Co-CEO Daniel Roberts highlights Hammersley's experience as critical for serving demanding enterprise customers.

📅 Oklahoma project spans approximately 2,000 acres with direct grid connection via on-site substation.

Bullish Signals
  • Strategic appointment of a highly experienced CISO (20+ years) to lead security for expanding AI and mining operations.
  • Doubling of AI Cloud capacity to 23,000 GPUs demonstrates aggressive growth in high-demand infrastructure.
  • $674 million capital expenditure on top-tier NVIDIA B300/B200 and AMD MI350X GPUs signals strong commitment to next-gen AI training.
  • Illustrative revenue run rate projection of over $500M by Q1 2026 indicates confidence in market demand and pricing power.
  • Expansion of secured grid-connected power portfolio to over 4.5GW provides essential fuel for compute growth.
  • New 1.6GW Oklahoma campus adds significant long-term capacity with direct grid connection planned for 2028.
  • Utilization of existing 50MW Prince George facility for expanded GPU fleet optimizes current infrastructure assets.
Full Analysis
IREN has appointed Eric Hammersley as its new Chief Information Security Officer, effective Wednesday. With over 20 years of experience securing cloud platforms and critical infrastructure, Hammersley will oversee security across the company's data centers, compute stack, and software systems. This appointment underscores IREN's commitment to robust security as it scales its AI Cloud services for demanding enterprise customers. The strategic hire coincides with significant expansion in IREN's physical and digital footprint. The company recently doubled its AI Cloud capacity to approximately 23,000 GPUs following a $674 million order from NVIDIA and AMD for B300, B200, and MI350X systems. IREN projects an illustrative annualized revenue run rate exceeding $500 million by Q1 2026, contingent on delivery and utilization assumptions. IREN continues to aggressively expand its power portfolio with a new 1.6GW campus in Oklahoma scheduled to receive power in 2028, bringing total secured grid-connected capacity to over 4.5GW. Additionally, the company is staging expanded GPU fleets at its existing 50MW Prince George facility in British Columbia, which features direct grid connection and dedicated fiber routes. Daniel Roberts, co-founder and co-CEO of IREN, stated that Hammersley's experience is invaluable as the company delivers services to top-tier clients. The appointment addresses critical security needs inherent in managing large-scale AI workloads and bitcoin mining operations across diverse geographic locations.