IREN Shares Soar 11% Pre-Market After Doubling AI Cloud Fleet, Lifting ARR Target – 22/9/2025
IREN (IREN) jumped 11% in pre-market trading to $43 after announcing it has doubled its AI Cloud capacity to 23,000 GPUs, raising its annualized run-rate (ARR) revenue target to over $500 million by Q1 2026.
The company invested roughly $674 million in hardware, including 7,100 NVIDIA B300s, 4,200 B200s, and 1,100 AMD MI350Xs, with deliveries staged at its Prince George campus. Alongside its Texas facilities, IREN’s infrastructure could eventually support more than 60,000 Blackwell GPUs.
The expanded fleet also comprises 1,900 NVIDIA H100s and H200s, 19,100 B-series NVIDIA GPUs, 1,200 GB300s, and 1,100 AMD MI350Xs, enhancing both the company’s computing capabilities and customer reach.
“As global compute demand grows, customers are seeking partners who can deliver scale quickly,” said Co-CEO Daniel Roberts. “Doubling our fleet in just a few months underscores the strength of our vertically integrated platform.”
IREN is also exploring financing options to fuel growth while continuing its 50 EH/s Bitcoin mining operations.
