IREN signs $1.6B Dell deal for Blackwell GPUs; ARR target raised to $4.4B

IREN Ltd

Entered $1.6B purchase agreement with Dell for air-cooled Blackwell systems to service $3.4B AI cloud contract.
GPUs to be deployed at Childress, Texas campus; commissioning targeted for early 2027.
Upon commissioning, expects ARR to increase from $3.7B to $4.4B.
Payment terms post-shipment; IREN advancing GPU financing for the deal.
Co-CEO cites time-to-compute as key; relationship with Dell ensures scale and speed.

item 1.01 item 7.01 item 9.01

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