According to Globenewswire, Nasdaq-listed company IREN released its latest financial report, disclosing a $3.4 billion AI cloud contract with NVIDIA. IREN will deploy air-cooled Blackwell GPU infrastructure for NVIDIA under a five-year agreement. The report also revealed that IREN is accelerating its transition from Bitcoin mining to AI cloud services, with data center construction related to its $9.7 billion contract with Microsoft currently underway. As of April 30, IREN held $2.6 billion in cash. Revenue for the third quarter of fiscal year 2026 amounted to $144.8 million, down from $184.7 million in the prior quarter, due to a non-cash impairment charge related to the retirement of mining equipment, resulting in a net loss of $247.8 million.
IREN Announces $3.4 Billion AI Cloud Contract with NVIDIA and Accelerates Transition to Bitcoin Mining
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Summary
Bitcoin news broke on Tuesday as IREN, a NASDAQ-listed company, disclosed a $3.4 billion AI cloud deal with NVIDIA. The five-year contract involves deploying air-cooled Blackwell GPU infrastructure. IREN is transitioning from Bitcoin mining to AI cloud services, with a $9.7 billion Microsoft data center project currently underway. As of April 30, the company held $260 million in cash, reported Q3 2026 revenue of $14.48 million, and a $24.78 million net loss from mining equipment write-downs. Bitcoin analysis suggests this shift reflects broader industry trends.
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