Bitcoin miner IREN gives co-CEOs $700 million in shares

Bitcoin miner IREN rewards its two co-CEOs with a massive stock package. The board of directors approved a grant of 9,099,328 restricted stock units (RSUs) to both William Roberts and Daniel Roberts on 30 June 2026. Together, this amounts to 18,198,656 RSUs worth approximately $700 million, representing about 5% of all outstanding shares of the company.

Bitcoin is available at OKX and Bybit.

Six-Year Vesting and Holding Requirements

The RSUs are not simply paid out. The grant features an extensive structure with a six-year vesting period and associated holding requirements. Thus, the shares are distributed over four years in equal annual tranches after the grant date, on or around 1 July 2026. Thereafter, an additional holding period applies that continues until IREN’s fiscal year 2033 for the final tranche.

Both executives will receive no further stock grants until fiscal year 2031. According to the company, the RSUs reflect the completion of a multi-year compensation framework aimed at aligning the long-term interests of the co-CEOs with those of the shareholders. The grant was approved by the independent directors in collaboration with an external compensation advisor, reports the SEC filing.

Financial Results Show Mixed Picture

The timing of the announcement is notable, as IREN also reports financial figures that are not exclusively positive. For the quarter ended 31 December 2025, the company booked revenue of $184.7 million, but at the same time a net loss of $155.4 million. That is a substantial loss for a publicly traded Bitcoin miner on the Nasdaq.

The compensation committee of the board of directors indicates that it considered various alternatives for the structure of the grant, including various size options, performance-based structures and alternative vesting periods. Ultimately, the board chose the current structure as the most balanced implementation of the company’s long-term strategy. The RSUs are issued under the IREN Limited 2025 Omnibus Incentive Plan.