IREN Limited ($IREN) has moved to significantly expand its equity financing firepower, upsizing its at-the-market (ATM) stock issuance program to as much as $6 billion—an aggressive step that underscores the capital intensity of scaling Bitcoin (BTC) mining infrastructure and high-performance data center capacity. The Nasdaq-listed miner said the new program replaces a prior $1 billion issuance plan launched in August 2025.
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