One of the most common questions we get about AI data centers is how much water do they use?
Fair question. Older designs cooled servers by evaporating water and people naturally assume ours do too. They don't.
$IREN's sites are different. Direct-to-chip liquid cooling in a closed loop. Same idea as a car radiator or a fridge. Fill it once and the water just goes round and round.
Over the life of a 200MW site, the initial fill plus every top-up averages out to about as much water each year as 3 households.
Not a town. Not a suburb. Not a street... 3 houses.
Water matters in the regions we build in. Which is precisely why our cooling barely uses any.
1. $IREN Cash & Cash Equivalents $7.6B
Market Cap $14.2B
2. $NBIS Cash & Cash Equivalents $9.3B
Market Cap 45.7B
3. $CRWV Cash & Cash Equivalents $3B
Market Cap $40B
IREN has signed $2.8bn in new multi-year AI Cloud services contracts with leading AI developers and raised its year-end 2026 AI Cloud ARR target from $3.7bn to over $4.0bn.
“Our vertically integrated AI Cloud platform is scaling at pace. In the past 12 months we have expanded from approximately 3MW of self-built AI Cloud capacity to 480MW being delivered this year, with 1.2GW targeted for 2027, broadening our customer base across hyperscalers, enterprises and AI developers.”
“We are proud to support leading companies building frontier applications across design, physical AI and robotics, generative media, AI search and model development.” - @danroberts0101
Press release: https://t.co/7W3Ze0JThN
@NolanGouveiapG Both companies are undervalued, NBIS has had a greater run than iren already, Iren seeking to hold key positions above 55$, to hopefully recover back to 65$ onwards within the upcoming weeks