IREN said its annualized run-rate revenue is expected to rise to $4.4 billion once new Blackwell systems are commissioned at its Childress, Texas campus, up from $3.7 billion currently. That is an increase of $700 million, or about 18.9%.
The company said the Blackwell deployment is tied to its previously announced five-year, $3.4 billion managed services AI cloud contract. It also said the new systems are intended to support a broader revenue base that includes expected annual revenue of $1.9 billion from its Microsoft contract, $0.7 billion from the $3.4 billion AI cloud contract, and $1.8 billion from planned GPU deployments at its British Columbia and Childress sites.
IREN said the Dell purchase agreement is worth about $1.6 billion and covers GPUs, servers, storage, networking, ancillary equipment, integration services and warranties. Payment will be structured on a post-shipment basis.
The Blackwell systems are slated for deployment across existing data centers at Childress, with commissioning targeted for early 2027. IREN said it is advancing GPU financing in connection with the deal. Today the company's shares have moved 10.15% to a price of $58.06. For more information, read the company's full 8-K submission here.
