IREN (IREN) shares continued to rally after announcing new multi-year AI cloud service contracts with leading AI companies for NVIDIA Blackwell GPU deployments.
The company remains on track to surpass $500 million in annualized run-rate revenue (ARR) by the end of Q1 2026 from 23,000 GPUs in operation or on order.Contracts covering 11,000 GPUs have already been signed, representing around $225 million in ARR expected to come online by the end of 2025.
With average two-year contract terms and revenue payback periods, IREN is scaling across its British Columbia campuses and Horizon 1 and 2 data centers in Texas, which together can host over 100,000 GPUs supported by 2,910 MW of secured power capacity.
IREN, Co-Founder Daniel Roberts said, “Our ability to rapidly transition from ASICs to GPUs across our British Columbia campuses , and the speed at which we’re building Horizon 1 & 2, demonstrates how IREN is uniquely positioned to meet accelerating demand for AI compute.”
The AI and high-performance computing (HPC) rally continued in early U.S. trading, with Bitfarms (BITF) up 12% after gaining 15% on Monday, while Hive Digital (HIVE) climbs another 10% following a 25% surge in the previous session.
PANAMA CITY, July 9, 2026 – BingX, a leading cryptocurrency exchange and Web3-AI company, today…
Despite the ongoing bear market, a few insane success stories can be witnessed here and…
BlackRock, the world’s largest asset manager, has resumed buying Bitcoin through its iShares Bitcoin Trust…
President Trump has once again reaffirmed his support for Bitcoin, describing BTC as a powerful…
Altcoins are gaining traction with traders already pitching high third-quarter projections. XRP is at the…
Cardano founder Charles Hoskinson has criticized Ethereum's latest research proposal, arguing that it revives concepts…