IREN Signs $2.8B in New AI Cloud Contracts, Raises 2026 ARR Target Above $4B
IREN just secured $2.8B in new multi-year AI cloud contracts, lifting its year-end ARR target from $3.7B to over $4B with 85% now under contract.
Iris Energy Limited (NASDAQ: IREN) is a technology company, listed on the NASDAQ. Alpha Stocks Insight has published 5 articles on IREN since Friday, July 3, 2026, most recently "IREN Reports FY2026 Results: AI Cloud Revenue Up ~8x, $639M Write-Down Hits Bottom Line" on Friday, August 28, 2026. Coverage to date spans Technology and Earnings Report, tracking IREN's earnings, analyst activity, and material corporate events. New coverage is added each trading day.
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IREN's AI Cloud revenue hit $128.8M in FY26, up ~8x, but $638.8M in Bitcoin hardware write-downs drove a full-year net loss of $702.6M.
IREN just secured $2.8B in new multi-year AI cloud contracts, lifting its year-end ARR target from $3.7B to over $4B with 85% now under contract.
IREN's AI cloud revenue rose 94% quarter-over-quarter, and a Russell 1000 inclusion is set to trigger passive fund buying. Shares gained 8.01% on Wednesday.
IREN reportedly shortlisted for Anthropic's $15 billion Australian data center project, shares gained 13.11% on July 6 alongside peer TeraWulf.
Jim Chanos called IREN's 18.2 million RSU package a 'corporate payout machine' — shares fell 10.39% on July 2 as governance scrutiny hit the bitcoin miner days after its Russell 1000 inclusion.
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Important Legal Disclaimer: This is for informational purposes only and is not financial, investment, or tax advice. Past performance is no guarantee of future results. We are not licensed advisors. For Swiss residents: This does not constitute a public offer under FINSA. For EU residents: Not MiFID II compliant advice. For US residents: Not SEC-registered advice. Always consult a qualified professional. Investing involves risk of loss.