Why did Iren (NASDAQ:IREN) sign new cloud service agreements with artificial intelligence companies?

Iren (NASDAQ:IREN) secured $US2.8 billion in new cloud service contracts to supply computing infrastructure to artificial intelligence developers. The company signed deals with customer organisations including Perplexity and Figure AI to expand its cloud hosting operations.

What are the updated 2027 revenue targets for Iren (NASDAQ:IREN)?

Iren (NASDAQ:IREN) stated that it raised its projected 2027 revenue from artificial intelligence cloud services to $US4 billion, up from a previous forecast of$US3.7 billion. The company reported that this updated forecast reflects expanding demand across its data centre network.

How is Iren (NASDAQ:IREN) expanding its data centre infrastructure capacity?

Iren (NASDAQ:IREN) stated that it aims to expand its total power capacity to 1.2 gigawatts by 2027 to meet growing cloud computing demand. The company expects to reach 480 megawatts of operational capacity by the end of 2026.

What was the historical revenue performance of Iren (NASDAQ:IREN) prior to its artificial intelligence expansion?

Iren (NASDAQ:IREN) generated $US187.3 million in annual revenue from Bitcoin mining for the financial year ended 30 June 2025, compared to$US6.9 million from artificial intelligence services.

What is the cash position of Iren (NASDAQ:IREN) following its recent corporate announcements?

Iren (NASDAQ:IREN) reported holding $US7.6 billion in cash and cash equivalents as at June 30. The company stated that these liquidity reserves will support ongoing data centre developments across North America, Australia, and Europe.

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Iren secures $US2.8B in new deals

Written by Brie CarterPublished Jul 21, 2026, 10:15 PM

Iren secured US$2.8 billion in new cloud computing contracts with artificial intelligence companies.
The company's share price rose to US$40.20 following the deal announcement.
Iren is expanding its data centre capacity to shift focus from Bitcoin mining to AI services.

Data centre provider Iren (NASDAQ:IREN) has secured US$2.8 billion in new cloud service agreements.

The company raised its 2027 AI revenue forecast to US$3.7 billion previously projected.

"Our vertically integrated AI cloud platform is scaling at pace," said Iren, co-founder Daniel Roberts.

Iren stated that it aims to expand total power capacity to 1.2 gigawatts by 2027.

Following the announcement, the Iren share price was up at US$40.20.

Bitcoin mining generated US$187.3 million of the company's annual revenue for the year ended June 30, 2025.

The business reported US$7.6 billion in cash and cash equivalents as at June 30.

Iren secures $US2.8B in new deals

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