IREN (IREN) Shares continued to gather after advertising new perennial AI-CLUD service contracts with leading AI companies for NVIDIA Blackwell GPU implementations.
The company remains on the track to surpass $ 500 million in annual current revenue (ARR) at the end of 1. quarter 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 that is expected to come online by the end of 2025.
With average two-year contract terms and repayment periods, Iren scales 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 secured power capacity.
Iren, co-founder Daniel Roberts said: “Our ability to quickly switch from Asics to GPUs across our British Columbia campuses, and the speed at which we build Horizon 1 & 2 demonstrates how Iren is uniquely placed to meet the accelerating demand for AI calculation.”
Miners are continuing to wave
AI and high performance computing (HPC) -Rally continued in early US trade, with BitFarm’s (BITF) rose 12% after getting 15% Monday, while Hive Digital (HIVE) climbing an additional 10% after an increase of 25% in the previous session.
