IREN Swaps Bitcoin Mining for Microsoft GPU Contracts

EarningsProduct / Tech Impact 4
โดย Insider Monkey·US·Read original
Summary · why it matters

IREN, formerly a Bitcoin miner, has pivoted to AI infrastructure, reporting fourth-quarter AI cloud revenue of $70.5 million and $4 billion in contracted revenue for 2026, with $1 billion already generating cash. The company delivered the first phase of a liquid-cooled data center to Microsoft in August 2026. Recent three-year contracts are priced above $20 million per megawatt, with prepayments covering 45% to 55% of GPU capital spending. IREN closed $6.5 billion in GPU financing, including $3.6 billion at 6% tied to the Microsoft contract and $2.8 billion in equipment financing at 9%, anchored by a $2.4 billion facility from Blue Owl and PIMCO. The company posted a net loss of $684 million for the fourth quarter, including $450.4 million in impairments from decommissioned mining hardware, and plans $25 billion to $30 billion in capital expenditures for fiscal 2027. Hedge fund ownership rose from 53 to 69 funds, while short interest stands at 27.24% of the float.

Impact on stocks 5

Financials▲ · 2 stocks
Cloud & Digital Infrastructure▲ · 1 stocks
IREN Ltd
IREN
▲ PositiveDemandrelevance

Pivoted to AI infrastructure with $4B contracted revenue for 2026, including Microsoft GPU contracts.

Artificial Intelligence▲ · 1 stocks
Microsoft Corporation
MSFT
▲ PositiveDemandrelevance

Microsoft is a customer for IREN's data center and GPU contracts, indicating demand for its cloud services.

Climate Adaptation & Water▲ · 1 stocks

Theme Impact 4

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