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IREN has signed additional multi-year cloud service contracts with several AI companies.
Foresight News reports that IREN Limited (IREN.US), a data center operator and Bitcoin mining company, has announced that it has signed additional multi-year cloud service contracts with several artificial intelligence (AI) companies involving the deployment of NVIDIA (NVDA.US) Blackwell series GPUs. As of now, 11,000 out of 23,000 GPUs have signed customer contracts, corresponding to approximately $225 million AI cloud ARR, expected to be operational by the end of 2025. As of the time of writing, IREN's stock price is up 14.45% in pre-market trading.