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IREN Signs $2.8B AI Cloud Contract, Raises Year-End Revenue Target to Over $4B

GateNews
AI Industry News
IREN19.76%
MSFT2.20%
NVDA0.36%

According to Odaily, Bitcoin miner IREN signed a $2.8 billion multi-year AI cloud services contract on Monday, raising its year-end annualized revenue target to over $4 billion. Approximately 85% of the revised target is already contracted, with customers including Microsoft, Nvidia, Perplexity, and Figure AI.

IREN plans to deliver 480 megawatts of AI cloud capacity by end of 2026, compared to 3 megawatts a year ago, and targets 1.2 gigawatts in 2027, according to co-CEO Daniel Roberts. The company's stock rose 15.7% on the announcement.

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