AI Cloud Services new contracts; additional revenue in March
Company: IREN
What the later record shows
Delivered; the record does not say when
AI Cloud run-rate revenue was $26m as of March 31, 2025, and the May 2025 release says revenues were increasing with new contract wins (run-rate $28m). No passage confirms that the additional contracted revenue specifically arrived in March.
“Utilized GPUs generating annualized run-rate revenue of $26 million as of March 31, 2025.”
2025-03-30 · iren 8-K exhibit (businessupdatevf.htm) View cached copy (2026-10-18)Live source ↗
“Revenues increasing with new contract wins o Now supplying white labelled compute to leading US AI cloud providers”
2025-05-13 · iren 8-K exhibit (q3fy25resultspressreleas.htm) View cached copy (2026-10-15)Live source ↗
Checked October 18, 2026 against filings, releases and reporting published after the claim was made. Quotes are verbatim from the linked documents.
The claim, verbatim
AI Cloud Services won new contracts in February, the fleet neared full utilization by month-end, and additional contracted revenue is expected to materialize in March 2025.
Source (primary)
iren 8-K exhibit (irenfebmonthlyupdatevf.htm) (SEC EDGAR (8-K Ex), press_release)
View cached copy (2026-10-18)Live source ↗
Quote: “new contract wins in February, fleet nearing full utilization at the end of February, with additional contracted revenue expected to materialize in March”
How we checked this
This claim has not yet been checked assertion-by-assertion against its source. It carries a cited source and quote, but the deeper check has not run. When it does, the result appears here whatever it says.
Additional evidence
confirms iren 8-K exhibit (irenfebmonthlyupdatevf.htm)
Quote: “new contract wins in February, fleet nearing full utilization at the end of February, with additional contracted revenue expected to materialize in March”
confirms iren 8-K exhibit (q3fy25resultspressreleas.htm)
Quote: “Revenues increasing with new contract wins o Now supplying white labelled compute to leading US AI cloud providers”
confirms iren 8-K exhibit (businessupdatevf.htm)
Quote: “Utilized GPUs generating annualized run-rate revenue of $26 million as of March 31, 2025.”