---
schema_version: "secwatch.filing_event.v1"
accession: "0001878848-26-000025"
form_type: "8-K"
ticker: "IREN"
cik: "0001878848"
company_name: "IREN Ltd"
filed_at: "2026-05-08T23:59:59+00:00"
generated_at: "2026-05-14T21:11:48.265033+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# IREN reports $144.8M revenue, net loss $247.8M; signs $3.4B NVIDIA AI cloud deal and 5GW partnership

## Summary
- $3.4B, 5-year AI Cloud contract with NVIDIA for air-cooled Blackwell GPUs; ramp from early 2027; 5GW strategic partnership includes warrant for up to 30M shares at $70.
- Net loss $(247.8)M vs $(155.4)M Q2, includes $140.4M non-cash impairments; Adj. EBITDA $59.5M vs $75.3M.
- Revenue $144.8M, down $39.9M QoQ due to lower Bitcoin price and mining hardware decommissioning ahead of GPU installs.
- 2026 expansion to 480MW on track; $3.1B ARR under contract targeting $3.7B ARR by end of CY2026.
- Cash $2.6B at Apr 30; acquired Nostrum (490MW Spain) and Mirantis (software) to strengthen AI cloud platform.

## SEC filing metadata
- accession: 0001878848-26-000025
- form_type: 8-K
- ticker: IREN
- cik: 0001878848
- company_name: IREN Ltd
- filed_at: 2026-05-08T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1878848/000187884826000025/0001878848-26-000025-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1878848/000187884826000025/iren-20260507.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001878848-26-000025
- JSON: https://secwatch.observer/filing/0001878848-26-000025.json
- Plain text: https://secwatch.observer/filing/0001878848-26-000025.txt

## Source-grounded claims
- claim_id: a7ed215e81898aa37010ad2b37a839b6e012f2f1
  claim: IREN Ltd reported three months ended Mar 31, 2026 results: net income $(247.8)m.
  evidence_excerpt: • Results reflected continued progress in the transition from Bitcoin mining to AI Cloud o Total revenue decreased to $144.8m (vs. Q2 FY26 $184.7m) o Net income (loss) of $(247.8)m (vs. Q2 FY26 $(155.4)m) o Adj. EBITDA decreased to $59.5m (vs. Q2 FY26 $75.3m)5 • Revenues decreased $39.9m, driven by lower average Bitcoin price combined with decommissioning
  evidence_url: https://www.sec.gov/Archives/edgar/data/1878848/000187884826000025/0001878848-26-000025-index.htm
- claim_id: a7ed215e81898aa37010ad2b37a839b6e012f2f1
  claim: IREN Ltd reported three months ended Mar 31, 2026 results: net income $(247.8)m.
  evidence_excerpt: Net income (loss) of $(247.8)m (vs. Q2 FY26 $(155.4)m)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1878848/000187884826000025/0001878848-26-000025-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.