TechFlow News, May 9: According to GlobeNewswire, IREN—a Nasdaq-listed company—released its latest financial report and disclosed a $3.4 billion AI cloud contract with NVIDIA. Under the five-year agreement, IREN will deploy air-cooled Blackwell GPU infrastructure for NVIDIA.
The financial report also indicates that IREN is accelerating its transition from Bitcoin mining to AI cloud services. Construction of the data center related to its $9.7 billion contract with Microsoft is underway. As of April 30, IREN held $2.6 billion in cash. Its revenue for the third quarter of fiscal year 2026 totaled $144.8 million, down from $184.7 million in the previous quarter; the company reported a net loss of $247.8 million, primarily due to non-cash impairments related to the retirement of mining equipment.
