IREN Cofounders Cash Out $66M as Stock Hits Record High
Willian and Daniel Roberts, the co-founders and co-CEOs of bitcoin miner IREN, have sold a combined 2 million shares as the company’s stock price climbed to record highs above $33.
Each brother sold 1 million shares, with the transactions totaling more than $33 million apiece, according to SEC filings on Thursday. Together, the sales amounted to about $66 million in market value.
Following the disposals, both Willian and Daniel each retain about 13.99 million shares, representing roughly 6% of IREN’s outstanding stock.
This is the second time in less than two years that the Roberts brothers have offloaded a large tranche of stock. In December 2023, they each sold 1 million shares when IREN briefly rallied near $5. Since then, the company’s operational scale has grown more than 800%, with realized hashrate jumping from under 6 EH/s to nearly 44 EH/s, while the share price has surged more than sixfold.
The latest sales come amid a broader rebound in publicly traded bitcoin miners. Over the past month, most major mining stocks have outperformed bitcoin, with Cipher Mining (NASDAQ: CIFR), TeraWulf and IREN leading the gains. IREN’s shares are up about 77% during the period, placing it among the top performers in the sector.
The combined market capitalization of 15 leading bitcoin mining stocks has also doubled, climbing from this year’s low of $21 billion in April to $47 billion as of Sept. 11.
IREN alone has seen its market cap swell from $1.31 billion at the end of April to nearly $9 billion — surpassing the combined value of rivals MARA and CleanSpark. Together, the three firms form the top tier of vertically integrated bitcoin miners, each with more than 40 EH/s of realized hashrate.
IREN’s AI cloud services generated $16.4 million in revenue for the year ended June 2025, compared with $484.6 million from its bitcoin mining business. Unlike its peers, however, IREN neither holds bitcoin or other digital assets on its balance sheet nor has signed high-performance computing colocation deals.
