IREN (NASDAQ:IREN) on Tuesday announced it has signed additional multi-year cloud services contracts with AI companies for Nvidia (NASDAQ:NVDA) Blackwell GPU deployments.
IREN recently expanded its AI Cloud capacity and remains on track to achieve >$500m in annualized run-rate revenue from the 23k GPUs currently operating and on order by the end of Q1 2026.
To date, customer contracts have been secured for 11k of the 23k GPUs, representing approximately $225M in AI Cloud ARR, expected to be in operation by the end of 2025.
