IREN (a Bitcoin mining company) reports it has signed $2.8 billion in new AI cloud contracts with AI developers, and it is raising its future revenue expectations tied to its AI cloud business. According to Yahoo Finance, the company signs the $2.8 billion deal and increases its 2026 annual recurring revenue (ARR) target. Cointelegraph reports the company lifts its year-end AI cloud revenue target to more than $4 billion after securing the same $2.8 billion of agreements.
While the sources differ in how they describe the specific target metrics—one referencing a 2026 ARR target and the other referencing a year-end AI cloud revenue target—both accounts connect the updated guidance to the newly announced AI cloud contract pipeline. The articles also agree on the core figures: IREN secures $2.8 billion in AI cloud deals and then increases its AI-related financial target beyond previously stated levels. The reports do not provide further deal terms or contract breakdowns in the information provided.
