COMPANIES · CLOUD & COMPUTE
IREN
IREN (formerly Iris Energy) builds and runs its own large data center campuses in North America, powered by grid and renewable energy, and rents out NVIDIA GPU clusters to AI companies. It began as a bitcoin miner and has been shifting those sites and that power to AI computing.
IREN (formerly Iris Energy) builds and runs its own large data center campuses in North America, powered by grid and renewable energy, and rents out NVIDIA GPU clusters to AI companies. It began as a bitcoin miner and has been shifting those sites and that power to AI computing.
It is one of the former bitcoin miners that turned secured power and land into AI capacity; its five-year, roughly $9.7 billion GPU cloud contract with Microsoft at its Childress, Texas campus made it a named supplier of compute to a hyperscaler. In FY26 bitcoin mining still produced most of its revenue, and it recorded large impairments while decommissioning mining hardware.
Charges AI labs, AI startups and hyperscalers for access to GPU clusters (AI cloud services) and, for most FY26 revenue, earned bitcoin from mining.
Australia (Sydney)
Cloud and specialized AI compute providers. The companies that buy up AI infrastructure and rent out computing power to AI developers and businesses. This is how most companies access AI computing without building their own data centers.
Connections (6)
Every connection below is tied to a readable source, date, classification and statement of its limits. A company source establishes what that company stated; it does not necessarily provide independent confirmation.
Current relationships (1)
Source: 2025-08-25 · reviewed 2026-09-26
Evidence: Primary-source statement · Reported operating
Limits: The release does not say whether the GPUs were bought directly from NVIDIA or through a reseller or server maker; fleet size is as of August 2025 and has since changed.
IREN Purchases 4.2k NVIDIA Blackwell GPUs & Secures Financing - AI Cloud Expanded to 8.5k GPUs ↗Dated or announced (4)
Source: 2026-08-27 · reviewed 2026-09-26
Evidence: Primary-source statement · Signed; not confirmed operating
Limits: A one-line mention of a signing; does not establish contract size, term, GPU count or whether service has started.
IREN Reports FY26 Results ↗Source: 2026-08-27 · reviewed 2026-09-26
Evidence: Primary-source statement · Signed; not confirmed operating
Limits: A one-line mention of a signing; does not establish contract size, term, GPU count or whether service has started.
IREN Reports FY26 Results ↗Source: 2025-11-03 · reviewed 2026-09-26
Evidence: Primary-source statement · Announced; not confirmed operating
Limits: Contract announcement; does not establish how much capacity has been delivered, revenue actually recognized, or that the full contract value will be realized. IREN's FY26 results describe the first of four 50MW deployments, not the full contract.
IREN Secures $9.7bn AI Cloud Contract with Microsoft ↗Source: 2025-11-03 · reviewed 2026-09-26
Evidence: Primary-source statement · Announced; not confirmed operating
Limits: Purchase agreement as announced by IREN; does not establish delivery schedule, final amount paid, or that Dell is IREN's only hardware supplier.
IREN Secures $9.7bn AI Cloud Contract with Microsoft ↗Comparisons (1)
Source: 2025-10-22 · reviewed 2026-09-26
Evidence: Analytical comparison · Product/market overlap
Limits: Market overlap only: both repurpose power-rich sites for AI, but Applied Digital mainly leases buildings to tenants while IREN mainly rents out GPU capacity; does not establish head-to-head competition for any specific customer.
Crypto mines are turning into AI factories (Uptime Institute) ↗IREN Reports FY26 Results ↗
Reviewed
Inclusion in this database is not an endorsement of a company or its securities. Nothing here is a recommendation to buy or sell anything, and none of it is individualized investment advice. See the disclosures. Data: AI Map v3.24, released .