Annual recurring revenue target by end of CY26
Company: IREN
The claim, verbatim
IREN targets $3.4 billion in annual recurring revenue by the end of calendar year 2026 from a 140,000 GPU expansion, comprising $1.94 billion from the Microsoft contract and $1.5 billion from approximately 63,000 GPUs deployed at British Columbia sites.
Source (primary)
iren 8-K exhibit (a991irenreportsq2fy26res.htm) (SEC EDGAR (8-K Ex), press_release)
View cached copy (2026-09-20)Live source ↗
Quote: “Targeted 140k GPU expansion on track to deliver $3.4bn ARR by end of CY26”
How we checked this
Checked on September 24, 2026. The cited source supports every part of this claim.
The headline and footnote 2 set out the $3.4bn ARR target, the 140k GPU expansion, and the $1.94bn Microsoft and $1.5bn British Columbia components. The footnote also says the target is not fully contracted.
Confirmed in the source:
- IREN targets $3.4bn of annual recurring revenue by the end of calendar 2026
- The target is tied to a 140,000 GPU expansion
- The target comprises an expected $1.94bn average annual revenue from the Microsoft contract
- The target includes an estimated $1.5bn ARR from about 63,000 GPUs deployed at British Columbia sites
What we did: Read our cached copy of SEC EDGAR (8-K Ex) (https://www.sec.gov/Archives/edgar/data/1878848/000187884826000014/a991irenreportsq2fy26res.htm) in full (28,428 characters, retrieved September 20, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms iren 8-K exhibit (a991irenreportsq2fy26res.htm)
Quote: “Targeted 140k GPU expansion on track to deliver $3.4bn ARR by end of CY26”