IREN LTD
IREN
Information Technology
1
exclusion reason
1 theme
This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
Iris Energy (IREN) operates a 750 MW data centre campus in Childress County, Texas (population 7,000), making it the dominant electricity consumer in a rural Panhandle community. The facility expanded from 600 MW to 750 MW in July 2024 after ERCOT grid integration approval, with approximately 650 MW operational. About 675 MW is earmarked for bitcoin mining, with 200 MW contracted to Microsoft for AI workloads under a $9.7 billion five-year agreement. IREN offers a $100,000 annual community grants programme to Childress County organisations. The facility sits in a wind-heavy ERCOT subregion where generation frequently exceeds local demand, but the scale of consumption relative to county population raises grid reliability and rate-impact concerns for existing residents.
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A digest of changes to our exclusion list — new additions, removals, and the evidence behind them. We review the list continuously as new evidence surfaces.
Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.
This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.
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