IREN converted former bitcoin-mining sites into GPU data centres for AI workloads, and when it reported fiscal 2026 results on 27 August 2026 it disclosed $4 billion in contracted 2026 AI Cloud revenue, with $1 billion already operating
IREN Ltd, an AI Cloud platform, reported its financial results for the full fiscal year ended June 30, 2026. The company disclosed $4 billion in contracted annualized run-rate revenue (ARR) for 2026 capacity, with $1 billion of this ARR already operating as of August 26, 2026. ARR is an operating metric, not a U.S. GAAP measure, and is based on GPU/hour pricing for commissioned GPUs under contract.
Verified 2026-09-27
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