Roberts brothers cash out $99m in IREN victory lap
The brothers who co-founded IREN sold one million shares each as the data centre and Bitcoin mining company hit fresh highs.
Former Macquarie VPs Dan and Will Roberts each sold one million IREN shares last week, SEC documents show, pocketing USD33 million ($49.5 million) each as the data centre company hit fresh all-time highs.
IREN’s stock has jumped 50% since 8 September , when the company revealed it had bought about 9,000 Nvidia Blackwell chips for its AI data centre services. The rally has pushed its market value past USD10 billion.
The Roberts brothers still hold large stakes of about 6% each. IREN is headquartered in Sydney but listed on the Nasdaq, with operations spread across North America.
IREN confirmed the stock sale but declined to comment.
The company generated USD501 million in revenue last financial year, up 168% year-on-year, with net profit of USD86 million. The first two months of the new financial year point to more strong growth, with revenue of USD165 million in July and August alone.
