Facts that name IREN, newest first.
2 GW
IREN reports more than 5GW of secured power and a >35GW development pipeline on more than 30,000 acres of land. Horizon 1 was delivered to Microsoft and Horizon 2-4 progressed to late-stage construction.
Contracts are with NVIDIA, Microsoft and 13 other customers. The more than $4 billion ARR target is fully contracted and fully funded, now targeted for January 2027 and possibly extending to February 2027.
AI Cloud revenue comprises AI Cloud Services Revenue of $135m and AI Cloud Lease Revenue of $65m. Total quarterly revenue is $228 million, up 66% sequentially, and AI Cloud segment gross margin is 86%.