AI Cloud contract wins and run-rate revenue
Company: IREN
The claim, verbatim
IREN says it now supplies white-labelled compute to leading US AI cloud providers, with AI Cloud run-rate revenue of $28 million a year as of May 5, 2025.
Source (primary)
iren 8-K exhibit (q3fy25resultspressreleas.htm) (SEC EDGAR (8-K Ex), press_release)
View cached copy (2026-10-15)Live source ↗
Quote: “Now supplying white labelled compute to leading US AI cloud providers ... Run-rate revenue now $28m annually”
How we checked this
Checked on October 16, 2026. The cited source supports every part of this claim.
The press release states both points, and its footnote 7 dates the $28m annualized run-rate (for utilized GPUs) to May 5, 2025.
Confirmed in the source:
- IREN now supplies white-labelled compute to leading US AI cloud providers
- IREN's AI Cloud run-rate revenue is $28 million annually
- The run-rate figure is as of May 5, 2025
What we did: Read our cached copy of SEC EDGAR (8-K Ex) (https://www.sec.gov/Archives/edgar/data/1878848/000187884825000043/q3fy25resultspressreleas.htm) in full (26,110 characters, retrieved October 15, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms iren 8-K exhibit (q3fy25resultspressreleas.htm)
Quote: “Now supplying white labelled compute to leading US AI cloud providers ... Run-rate revenue now $28m annually”