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IREN announces signing an AI cloud contract with NVIDIA valued at $3.4 billion, which will accelerate Bitcoin mining transformation
ChainCatcher News, according to Globenewswire, NASDAQ-listed company IREN announced its latest financial report and disclosed an AI cloud contract signed with NVIDIA valued at $3.4 billion. IREN will deploy air-cooled Blackwell GPU infrastructure for NVIDIA, with a contract term of 5 years.
The financial report also shows that IREN is accelerating its transition from Bitcoin mining to AI cloud business. Data center construction related to a $9.7 billion contract with Microsoft is underway. As of April 30, it holds $2.6 billion in cash, with third-quarter revenue for fiscal year 2026 at $144.8 million, down from $184.7 million in the previous quarter. Due to non-cash impairments related to mining equipment write-offs, net loss is $247.8 million.