IREN Moves Its $4 Billion AI Cloud Goal Into 2027, With $6 Billion of Capex Yet to Be Financed
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IREN , the Nasdaq-listed bitcoin miner turned AI cloud provider, now expects to reach more than $4 billion in annualized run-rate revenue in January 2027 instead of by the end of this year, and the date could move to the end of February, the company said on Thursday with its results for the quarter ended Sept. 30. IREN also set out how it plans to pay for its buildout. It has $15 billion of planned capital spending left in fiscal 2027, which ends in June. About $9 billion of that is covered by cash, committed GPU financing and customer prepayments.
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