NEW YORK, October 7, 2025 — Leads & Copy — IREN Limited (NASDAQ: IREN) announced the signing of additional multi-year cloud services contracts with leading AI companies for NVIDIA Blackwell GPU deployments.
IREN has expanded its AI Cloud capacity and is on track to achieve over $500 million in annualized run-rate revenue (ARR) from the 23,000 GPUs currently operating and on order by the end of Q1 2026. Customer contracts have been secured for 11,000 of these GPUs, representing approximately $225 million in AI Cloud ARR, expected to be in operation by the end of 2025. New NVIDIA Blackwell GPUs continue to be contracted ahead of delivery on an average term of 2 years, at pricing that supports a ~2-year revenue payback.
Beyond the initial 23,000 GPUs, IREN is engaging with customers through site tours, technical diligence, and commercial negotiations. The British Columbia campuses, along with the Horizon 1 & 2 data centers under construction in Childress, provide capacity for more than 100,000 GPUs. IREN’s 2,910 MW secured power and land portfolio offers expansion potential, which is also under discussion with customers.
Daniel Roberts, Co-Founder and Co-CEO of IREN, stated that IREN is uniquely positioned to meet accelerating demand for AI compute due to its ability to transition from ASICs to GPUs and the speed at which they are building Horizon 1 & 2.
IREN will transition to a standardized reporting process consistent with industry peers and will discontinue monthly operating updates.
Contacts:
Media: Megan Boles, Aircover Communications, +1 562 537 7131, megan.boles@aircoverpr.com; Jon Snowball, Sodali & Co, +61 477 946 068, +61 423 136 761
Investors: Mike Power, IREN, mike.power@iren.com
Source: IREN Limited
