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Home/News Feed/IREN Limited shifts from bitcoin mining to neocloud platform with 5GW power capacity and $3.7B ARR target by 2026
IREN
$38.52
+$0.24 +0.63%

IREN Limited shifts from bitcoin mining to neocloud platform with 5GW power capacity and $3.7B ARR target by 2026

Analyst Insights
08 May 2026
Seeking Alpha
View Source
Bullish
pluang ai news

IREN Limited is evolving from a bitcoin miner to an emerging neocloud platform, leveraging its core asset of secured grid-connected power capacity, which is rising to 5GW globally, including 4.5GW in North America. The company aims to achieve $3.7 billion in annual recurring revenue (ARR) by the end of 2026, supported by $3.1 billion under-contract ARR as of Q3 FY26. Despite current weak fundamentals and a sequential revenue decline to $144.8 million in Q3, mostly driven by bitcoin mining, the market may look beyond these challenges if IREN executes well, potentially leading to higher revenues. The author holds IREN stock and views it as a buy based on this outlook.

More News (IREN)

IREN names Eric Hammersley as Chief Information Security Officer to boost AI Cloud platform security.

IREN names Eric Hammersley as Chief Information Security Officer to boost AI Cloud platform security.

IREN Limited has appointed Eric Hammersley as its new Chief Information Security Officer, enhancing the security leadership of its AI Cloud platform. Hammersley brings over 20 years of experience in cloud and infrastructure security, previously holdi...

Company Fundamentals
Bullish
22 hours ago
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