AI Cloud annualized revenue $33m exit run-rate
Company: IREN
What the later record shows
The date slipped
AI Cloud revenue for the quarter ended December 31, 2024 was $2.7m, about $11m annualized, far below the $33m end-of-2024 exit run-rate. Monthly AI Cloud revenue was still only $2.2m in May 2025.
“AI Cloud Services Revenue $2.2m $2.0m $1.6m Electricity costs1 ($0.03m) ($0.04m) ($0.05m) Hardware profit2 $2.1m $2.0m $1.5m”
2025-06-04 · iren 8-K exhibit (ex991may2025monthlyupdat.htm) View cached copy (2026-10-13)Live source ↗
“Our AI Cloud Services revenue for the three months ended December 31, 2025 and 2024, was $17.3 million and $2.7 million, respectively.”
2026-02-04 · IREN 10-Q filed 2026-02-05 View cached copy (2026-08-31)Live source ↗
Checked October 28, 2026 against filings, releases and reporting published after the claim was made. Quotes are verbatim from the linked documents.
The claim, verbatim
Illustrative annualized exit run-rate revenue for AI Cloud Services at end of 2024 is $33m.
Source (primary)
iren 8-K exhibit (irennvidiah200purchasevf.htm) (SEC EDGAR (8-K Ex), press_release)
View cached copy (2026-10-28)Live source ↗
Quote: “Annualized exit run-rate (end of 2024) AI Cloud Services Bitcoin Mining Revenue $33m $460m”
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 (irennvidiah200purchasevf.htm)
Quote: “Annualized exit run-rate (end of 2024) AI Cloud Services Bitcoin Mining Revenue $33m $460m”
delays IREN 10-Q filed 2026-02-05
Quote: “Our AI Cloud Services revenue for the three months ended December 31, 2025 and 2024, was $17.3 million and $2.7 million, respectively.”
delays iren 8-K exhibit (ex991may2025monthlyupdat.htm)
Quote: “AI Cloud Services Revenue $2.2m $2.0m $1.6m Electricity costs1 ($0.03m) ($0.04m) ($0.05m) Hardware profit2 $2.1m $2.0m $1.5m”