IREN Secures Multi-Year AI Cloud Contracts, Signaling Industry Shift

IREN Limited (NASDAQ: IREN), a company specializing in Bitcoin mining and data center operations, has entered into multi-year agreements to provide cloud computing services using NVIDIA’s upcoming Blackwell GPUs. These deals generate an estimated $225 million annualized run-rate revenue (ARR) upon signing, with 11,000 of the company’s 23,000 GPUs already pre-sold. This strategic move marks IREN’s expansion into AI infrastructure using its existing facilities in British Columbia and Childress, Texas.