🇦🇺IREN had $413 million of floating-rate borrowings; a $1.5 billion swap hedged approximately $394 million as of June 30.

IREN disclosed in its Form 10-K that it had $413 million of floating-rate borrowings outstanding under a delayed-draw term-loan facility as of June 30, 2026. Approximately $394 million of those outstanding borrowings was hedged by an interest-rate swap.

The hedge is a forward-starting, fixed-for-floating Secured Overnight Financing Rate swap with an aggregate notional amount of $1.5 billion. It was entered into during fiscal 2026 in connection with financing GPU infrastructure supporting IREN’s agreement with Microsoft and remains in place over the related floating-rate term loan’s term.

IREN stated that, apart from this arrangement, it does not use derivatives to mitigate interest-rate exposure. A 100-basis-point increase or decrease in interest rates would have changed the fair value of the swap by $30.9 million, recorded in accumulated other comprehensive income or loss.

The filing also said a 100-basis-point rate movement would have increased or decreased fiscal-2026 pretax income or loss by $34.5 million through interest income on cash, cash equivalents and restricted cash. These sensitivity figures describe modeled rate movements rather than realized gains or losses.