IREN’s AI Extravaganza: $500M in Revenue by 2026? 🤑✨

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Ah, the sweet symphony of commerce! IREN Limited, that darling of the digital realm, has penned multi-year cloud contracts with all the flourish of a playwright signing his masterpiece. By the first quarter of 2026, they anticipate a princely sum of over $500 million in annualized revenue from their artificial intelligence (AI) cloud segment. Bravo, bravo! 👏🎭

AI, the New Opium of the Masses, Propels IREN’s Ascendancy

In a move that would make even the most jaded financier raise an eyebrow, the company proclaimed these new deals on October 7th, no less. The contracts, for the deployment of Nvidia’s Blackwell GPUs, are as coveted as invitations to a Wilde soiree. To date, 11,000 of their 23,000 GPUs have been spoken for, a coup that translates to a tidy $225 million in annualized run-rate revenue. 🤑💼

These GPUs, the modern-day alchemists’ stones, are slated to be operational by the end of 2025. The Blackwell GPUs, contracted ahead of delivery on a two-year term, are the belle of the ball, darling. 🎉🖥️

Year-to-date, IREN has soared over 500% against the greenback. One might say it’s the financial equivalent of a standing ovation. 🎭💸

But wait, there’s more! Beyond the initial 23,000 GPU deployment, IREN is in tête-à-têtes with existing and prospective suitors. Their sites in British Columbia and the Horizon 1 & 2 data centers in Childress, Texas, are poised to house over 100,000 future GPUs. How delightfully ambitious! 🌟🏗️

“Our transition from ASICs to GPUs is as seamless as a Wildean wit,” declared Daniel Roberts, IREN’s co-founder and co-CEO, with all the gravitas of a man who knows his audience. “The speed at which we’re building Horizon 1 & 2 demonstrates IREN’s unique position to satiate the insatiable demand for AI compute.” 🧠⚡

He also trumpeted their nearly 3 gigawatts of secured power as a key advantage, a feat as impressive as a perfectly timed bon mot. IREN (Nasdaq: IREN), the darling of next-generation data centers, powers its operations with 100% renewable energy. Their trifecta of business verticals-Bitcoin mining, AI cloud services, and bespoke AI data center infrastructure-is as diverse as a Wildean cast of characters. 🌍🔌

As their business evolves, IREN will adopt a standardized reporting process, bidding adieu to their monthly operational updates. Alas, the revenue targets, based on internal assumptions, are not set in stone, as noted in their Tuesday release. But then, darling, what in life truly is? 🌪️📉

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2025-10-08 03:33