Microsoft accepted 50 MW Horizon 1; ARR reached $1B
Company: IREN
The claim, verbatim
Contracted ARR exited the quarter at about $500 million and reached $1 billion after Microsoft formally accepted the initial 50 MW Horizon 1 facility.
Source (primary)
IREN’s radical AI pivot: Is this 43% plunge a buying opportunity or a value trap? - Yahoo Finance (-, news_article)
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Quote: “Contracted annual recurring revenue exited the quarter at approximately $500 million, reached $1 billion after Microsoft formally accepted the initial 50-megawatt Horizon 1 facility”
How we checked this
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Additional evidence
confirms IREN’s radical AI pivot: Is this 43% plunge a buying opportunity or a value trap? - Yahoo Finance
Quote: “Contracted annual recurring revenue exited the quarter at approximately $500 million, reached $1 billion after Microsoft formally accepted the initial 50-megawatt Horizon 1 facility”