secwatch.observer — SEC 8-K summary
======================================

Issuer:     IREN Ltd (IREN)
CIK:        0001878848
Form:       8-K
Filed at:   2026-03-04T23:59:59+00:00
Accession:  0001140361-26-007905
Event type: other_material
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

IREN expands GPU fleet to 150,000, targets $3.7bn AI cloud revenue run-rate by end-2026
--------------------------------------------------------------------------------

- Purchased over 50,000 NVIDIA B300 GPUs under Dell agreements for aggregate ~$3.5B, with deliveries in H2 2026.
- Total GPU fleet to reach 150,000 by end-2026, deployed across existing data centers in BC and Texas.
- AI cloud annualized run-rate revenue expected to exceed $3.7bn by end-2026.
- Secured $9.3bn funding over past 8 months via customer prepayments, convertible notes, GPU leasing, and financing.
- Payment terms post-shipment; also established at-the-market equity program as part of capital management.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1878848/000114036126007905/0001140361-26-007905-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1878848/000114036126007905/ny20064909x3_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-26-007905

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer