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

Issuer:     IREN Ltd (IREN)
CIK:        0001878848
Form:       8-K
Filed at:   2026-05-08T23:59:59+00:00
Accession:  0001878848-26-000025
Event type: earnings
Sentiment:  positive
Materiality: 0.90
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- $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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1878848/000187884826000025/0001878848-26-000025-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1878848/000187884826000025/iren-20260507.htm
  HTML page:      https://secwatch.observer/filing/0001878848-26-000025

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