Welcome to our dedicated page for IREN news (Ticker: IREN), a resource for investors and traders seeking the latest updates and insights on IREN stock.
IREN Limited reports developments in AI cloud infrastructure, large-scale data centers and GPU clusters for AI training and inference. Company updates cover managed GPU cloud services, customer contracts, NVIDIA platform deployments, hardware procurement, and the buildout of grid-connected data center capacity in renewable-rich regions.
Recurring IREN news also includes financial results, conference-call materials, site energization milestones such as Sweetwater 1, and capital actions including convertible notes and ordinary-share issuance programs. The company’s updates connect data center power availability, GPU deployment, customer workloads and capital funding to its vertically integrated AI cloud platform.
IREN (IREN) reports that its 2GW Sweetwater Hub has been conditionally included in ERCOT’s Batch Zero process as Base Load. Sweetwater 1 (1,400MW) and Sweetwater 2 (600MW) are part of IREN’s previously announced global data center development portfolio exceeding 5GW. At Sweetwater 1, a high-voltage substation was energized earlier in 2026, and construction of 300MW (gross) of data center capacity is underway, with delivery targeted for Q4 2027. Additional large-scale projects in IREN’s development pipeline have also entered Batch Zero, but ERCOT’s classifications remain conditional and subject to further approvals. IREN plans to add these projects to its announced development portfolio only after executing relevant grid connection agreements and will continue coordinating with transmission and distribution providers, grid operators, regulators, and local communities.
Blue Owl Capital (NYSE: OWL) announced that funds it manages led a $2.4 billion compute equipment financing for IREN Limited (NASDAQ: IREN), a vertically integrated AI Cloud platform. The package consists of a $1.2 billion senior secured term loan and $1.2 billion of senior secured notes, structured to fund NVIDIA Accelerated Computing Infrastructure, including Blackwell Ultra GPUs, for IREN’s Mackenzie data center campus in British Columbia.
The facility will fund equipment in tranches over a defined draw period, aligned with delivery and commissioning of hardware, and is intended to support IREN’s AI Cloud infrastructure expansion, which is backed by a more than 5GW global data center development pipeline. Blue Owl highlights its equipment-finance discipline and experience across more than 100 data centers worldwide as key to structuring the asset-backed GPU financing.
IREN (NASDAQ: IREN) reported FY26 results and a major shift from Bitcoin mining toward AI cloud infrastructure. For the year ended June 30, 2026, total revenue rose to $707.0m from $501.0m, driven by AI Cloud Services revenue increasing to $128.8m from $16.4m, while Bitcoin Mining revenue reached $578.2m.
IREN reported a FY26 net loss of $702.6m versus net income of $86.9m in FY25, largely due to $638.8m of non-cash asset impairments linked to decommissioned Bitcoin mining hardware. Adjusted EBITDA was $245.7m, down from $269.7m. The company highlighted contracted ARR of $4bn for 2026 capacity and $1bn operating ARR as of August 26, 2026, noting ARR is a non-GAAP operating metric and may differ materially from recognized revenue.
IREN signed a new multi-year AI Cloud contract with a leading frontier AI lab and reported recent wins with customers including Cohere, Prometheus, Perplexity, Figure AI, Fal AI and Higgsfield AI. Capacity for 2026 is described as largely sold out, with late-stage discussions for 2027 and ongoing talks for 2028 capacity and associated financing.
On the infrastructure side, IREN delivered “Horizon 1,” the first of four 50MW liquid-cooled GPU deployments to Microsoft at Childress and obtained NVIDIA Exemplar Cloud status on GB300 NVL72. Horizon 2 commissioning is underway, with Horizons 3–4 in late-stage construction, targeting delivery in Q4 2026. The company is executing a global data center pipeline exceeding 5GW, targeting cumulative IT delivery of approximately 0.3GW in 2026 and 0.8GW in 2027.
Funding for GPU growth is supported by a $3.6bn investment-grade GPU financing for the Microsoft contract at about 6.0% and an additional $2.8bn in GPU financings for other customers, including a $2.4bn facility led by Blue Owl and Pacific Investment Management Company at a 9.0% fixed rate. According to IREN, these financings, together with customer prepayments, fund 90–96% of associated GPU capex and in some cases exceed GPU capex, assisting broader data center investment.
Cash, cash equivalents and restricted cash at June 30, 2026 totaled over $7.5bn, supported by significant capital raises, including $2.1bn of ordinary share issuance, $3.0bn of convertible notes and $938.0m from financing facilities during the quarter. Management emphasized a deliberate strategy to build a diversified customer base across hyperscalers, enterprises, AI developers and frontier labs while preserving capacity for higher-value managed services and software.
IREN (NASDAQ: IREN) will release its financial results for the fiscal year ended June 30, 2026 on Thursday, August 27, 2026, followed by a conference call and live webcast at 5:00 p.m. Eastern Time. A recorded replay will be available on IREN’s investor events webpage shortly after.
IREN (NASDAQ: IREN) reported that its first 50MW Horizon 1 direct-to-chip liquid cooled AI Cloud deployment has been delivered to and accepted by Microsoft at IREN’s Childress, Texas campus. Horizon 1 is part of a five-year, $9.7 billion cloud services contract announced in November 2025.
IREN also achieved NVIDIA Exemplar Cloud status on its NVIDIA GB300 NVL72 deployment at Horizon 1, following NVIDIA testing. The company continues to target expansion to 480MW gross AI Cloud capacity in 2026 and 1.2GW in 2027, including future Horizons 2–4 for Microsoft.
IREN (NASDAQ: IREN) has completed the acquisition of Mirantis, a cloud software and services provider, by issuing approximately 12.6 million ordinary shares, fixed at signing, plus cash, restricted stock units and other consideration totaling about $40 million at closing.
According to IREN, the deal expands its vertically integrated AI Cloud platform by adding Mirantis’ software for AI workload orchestration, monitoring and customer support, complementing IREN’s owned data centers and compute. Mirantis contributes experience serving more than 1,500 enterprise customers and is an inaugural partner of the NVIDIA AI Cloud Ready Initiative, with its open-source k0rdent AI platform integrated with NVIDIA DSX OS components. The combined platform is intended to give customers more flexibility in deploying and scaling AI workloads across bare metal and managed cloud services, while Mirantis’ k0rdent AI will continue to be developed and supported for existing customers.
IREN (NASDAQ: IREN) raised its year-end 2026 AI Cloud annualized run-rate revenue (ARR) target from $3.7bn to over $4bn, based on 480MW of planned AI Cloud capacity. According to IREN, roughly 85% of this ARR is now under contract, supported by new multi-year cloud services agreements with leading AI developers totaling $2.8bn in contract value.
IREN’s customer roster now includes Microsoft, NVIDIA and several AI specialists, with a weighted average contract term of about 4 years. Recent deals feature customer prepayments equal to about 45% of related GPU capex, and IREN reported approximately $7.6bn in cash and cash equivalents as of June 30, 2026.
IREN (NASDAQ: IREN) announced the appointment of Eric Hammersley as Chief Information Security Officer, reinforcing its senior leadership as it expands its AI Cloud platform into new markets and services. Hammersley will oversee security across IREN’s data centers, compute infrastructure and software layers.
He brings more than 20 years of experience securing cloud platforms and critical infrastructure, joining from Nutanix where he was Vice President, Engineering and Chief Product Security Officer responsible for security governance, compliance and operational assurance. His background also includes security roles at NVIDIA, positions within the U.S. federal government and defense sector, and service as a U.S. Navy veteran.
IREN (NASDAQ: IREN) appointed Kambiz Aghili as Chief Product Officer and Michael Nudelman as Chief Development Officer, both based in San Francisco.
Aghili will lead product strategy for IREN’s AI Cloud platform, while Nudelman will direct global data center development and expansion of the 5GW secured grid-connected power portfolio.
IREN (NASDAQ: IREN) has been added to the Russell 1000 Index, effective after market close on June 26, 2026, following FTSE Russell’s annual reconstitution.
The index tracks roughly 1,000 of the largest U.S. companies by market cap and is widely used as a large-cap benchmark.