Skip to content
- IREN secures new multi-year AI cloud contracts powered by NVIDIA Blackwell GPUs.
- The company targets over $500 million in annualized revenue by Q1 2026.
- Expansion plans include capacity for more than 100,000 GPUs across North America.
According to the report, IREN Limited (NASDAQ: IREN) announced new multi-year cloud service agreements with leading AI firms. These contracts focus on deploying NVIDIA’s advanced Blackwell GPUs. The development strengthens IREN’s position as a major player in AI infrastructure and cloud computing.
The company continues to build its AI Cloud network across North America, using data centers powered by renewable energy. This growth highlights IREN’s ability to transition quickly from Bitcoin mining operations to high-demand AI compute services. The new contracts underline growing confidence from global AI partners who seek reliable, high-performance GPU solutions.
IREN’s expansion is part of its plan to reach more than $500 million in annualized run-rate revenue by early 2026. The company has already secured agreements covering 11,000 of its planned 23,000 GPUs, representing around $225 million in AI Cloud revenue expected by the end of 2025.
IREN’s Growth Driven by Renewable-Powered Data Centers
IREN’s growth is supported by strong infrastructure across the United States and Canada. Its British Columbia campuses, along with the new Horizon 1 and Horizon 2 data centers under construction in Childress, Texas, will provide capacity for over 100,000 GPUs.
These facilities are designed for large-scale AI workloads, combining renewable power and advanced fiber connectivity. IREN’s secured power and land portfolio, totaling 2,910 megawatts across more than 2,000 acres, gives the company a strong base for future expansion. Ongoing talks with AI companies indicate continued interest in utilizing this capacity.
This large-scale infrastructure allows IREN to offer competitive terms, with revenue payback on GPU deployments expected in just two years. The company’s approach combines clean energy with scalable design, aligning with global demand for sustainable AI solutions.
Strategic Positioning in AI and Bitcoin Integration
IREN continues to operate one of the world’s largest Bitcoin mining networks while diversifying into AI-focused cloud computing. Its data centers now support three main verticals: Bitcoin mining, AI Cloud Services, and AI Data Centers.
With 50 exahashes of self-mining Bitcoin capacity and growing GPU-based AI operations, IREN bridges traditional blockchain infrastructure with modern compute needs. The shift from ASICs to GPUs marks a strategic evolution that positions IREN at the intersection of digital assets and artificial intelligence.
As part of its corporate update, IREN plans to align reporting standards with industry peers and will discontinue monthly updates. The company’s rapid expansion, renewable power usage, and focus on scalable AI infrastructure underscore its potential to become a key contributor to the global AI ecosystem.
Related Reading: Strategic Bitcoin Reserve: U.S. Government’s Plan to Invest in Bitcoin Using Forfeited Assets
