IREN's 10-K names Antpool and Foundry as its main mining pool service providers

IREN's annual report, a 10-K filed 2026-08-27 (accession 0001878848-26-000052), names the mining pools it relies on. The relevant sentence reads:

"We expect to use Antpool and Foundry as our main mining pool service providers and we are subject to Antpool's User Service Agreement and Foundry's Pool Terms."

The full filing is on sec.gov.

What the figure is a figure of

| Item | From the filing | |---|---| | Suppliers named | 2 | | Counterparties | Antpool, Foundry | | Role | Main mining pool service providers | | Governing documents | Antpool's User Service Agreement; Foundry's Pool Terms |

The 2 is a count of suppliers named in one sentence of IREN's own filing. It does not say how much of IREN's hashrate goes to each pool, what fees they charge, or how revenue is split between them. The filing gives no share or dollar figure for either counterparty, so this finding doesn't give one either.

What it means mechanically

A mining pool combines hashrate from many miners and pays each one a share of block rewards and transaction fees under the pool's payout method. For a self-mining company, the pool is where operating hashrate becomes bitcoin revenue. By naming its main providers, the filing says that this step runs mostly through 2 counterparties.

The wording matters too. IREN says it is subject to each pool's terms: a User Service Agreement and Pool Terms. That reads like standard terms set by the provider, not a contract negotiated between the parties. In practice, a miner on standard pool terms usually has limited pricing power over fees and payout rules, and those terms can change on the pool's side. The other side of this is portability. Hashrate can usually be pointed at a different pool without much physical work, so the dependency is operational and contractual, not tied to equipment. Even so, a disruption at either pool, such as downtime, a change in payout method, or a change in terms, would hit the revenue step directly until hashrate was moved.

The sentence is also in the future tense: IREN "expect[s] to use" these providers. It describes intended use and does not lock in an arrangement for the coming period.

What to watch in the next filing

• Whether the names change. If a pool is added, dropped or replaced, IREN has rebalanced this dependency.
• Whether the word "main" stays. If the filing adds or removes qualifiers around these providers, that would signal a change in how concentrated pool usage is.
• Any figures attached to the pools. Fee rates, the share of hashrate, or payout method would make the dependency measurable. This filing does not give them.
• Risk-factor language about the pool terms. Watch for mentions of amendments, disputes or interruptions under Antpool's User Service Agreement or Foundry's Pool Terms.

IREN's supplier and customer links are mapped on its room on varamir.com.