IREN has delivered the first of four planned AI cloud deployments to Microsoft under a five-year, $9.7 billion agreement, marking another major step in the former Bitcoin miner’s shift toward AI infrastructure.
The Horizon 1 facility at IREN’s Childress, Texas, campus provides 50 megawatts of liquid-cooled IT capacity and uses Nvidia GB300 GPUs. Horizon 2 through Horizon 4 are expected to come online later in 2026, bringing the total deployment to 200 MW.
IREN said Horizon 1 also received Nvidia Exemplar Cloud status after testing of its GB300 NVL72 systems, recognizing the deployment’s performance and reliability for AI workloads.
The company is targeting 480 MW of AI cloud capacity in 2026 and as much as 1.2 gigawatts by 2027 as it continues diversifying away from Bitcoin mining.
IREN previously secured a $3.65 billion debt package backed by the Microsoft contract. The financing was designed to cover about 96% of the $5.81 billion in GPU spending associated with the project.
IREN shares rose about 2.6% to $45.22 on Monday, though the stock remained up less than 6% year to date.
The Horizon 1 facility at IREN’s Childress, Texas, campus provides 50 megawatts of liquid-cooled IT capacity and uses Nvidia GB300 GPUs. Horizon 2 through Horizon 4 are expected to come online later in 2026, bringing the total deployment to 200 MW.
IREN said Horizon 1 also received Nvidia Exemplar Cloud status after testing of its GB300 NVL72 systems, recognizing the deployment’s performance and reliability for AI workloads.
The company is targeting 480 MW of AI cloud capacity in 2026 and as much as 1.2 gigawatts by 2027 as it continues diversifying away from Bitcoin mining.
IREN previously secured a $3.65 billion debt package backed by the Microsoft contract. The financing was designed to cover about 96% of the $5.81 billion in GPU spending associated with the project.
IREN shares rose about 2.6% to $45.22 on Monday, though the stock remained up less than 6% year to date.