IREN Q4 2026 Revenue Reaches $137.2M, AI Cloud Revenue Doubles

ChainCatcher report: IREN's revenue for the fourth quarter of fiscal year 2026 was $137.2 million, broadly in line with expectations; adjusted EBITDA was $19.2 million, approximately 53% below expectations. AI cloud services revenue increased sequentially from $33.6 million to $70.5 million, while Bitcoin mining revenue declined from $111.2 million to $66.7 million. The company currently has an annual recurring revenue (ARR) of approximately $1 billion, with nearly all 2026 capacity sold out, corresponding to contracted ARR of about $4 billion, and has signed a multi-year contract with a new frontier AI lab. Recent three-year contracts have generated over $20 million in revenue per IT MW, with some negotiated prices reaching approximately $25 million. IREN plans to increase its cumulative IT capacity from approximately 0.3 GW in 2026 to about 0.8 GW in 2027; current cash reserves, committed GPU financing, and customer prepayments total approximately $14 billion.