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IREN Limited controls 5 GW power infrastructure and targets $3.7B ARR by 2026 with strong GPU deployment.

Market News
11 May 2026
Seeking Alpha
View Source
Bullish
pluang ai news

IREN Limited now manages 5 gigawatts of secured power infrastructure across Texas, British Columbia, Oklahoma, Spain, and Europe. The company aims to deploy 150,000 GPUs and achieve approximately $3.7 billion in contracted annual recurring revenue (ARR) by the end of 2026. Financing for GPU capital expenditures, largely supported by Microsoft, covers about 95% of deployment costs at favorable rates near 3%. Additionally, Mirantis' addition of 1,500 enterprise customers and 650 engineers expands IREN's reach beyond hyperscaler GPU infrastructure hosting, signaling growth potential despite recent revenue misses and reduced Bitcoin mining contributions.

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