AI cloud capacity target for fiscal 2026
Company: IREN
What the later record shows
The date slipped · new target December 31, 2026
A JPMorgan note says IREN ended June 2026 with 40 MW of capacity, far short of 300 MW by the fiscal-year end. The 300 MW target is now described as a calendar 2026 goal. The original target may have referred to calendar 2026.
“The company ended June with 40 megawatts of capacity and is likely to reach about 400 megawatts of operational capacity by the end of 2026”
2026-09-14 · IREN Slides 4% as JPMorgan Doubles Down With Rare Upgrade to Overweight - finance.biggo.com View cached copy (2026-09-14)Live source ↗
“IREN is targeting about 300 MW of IT load in 2026 and another 500 MW in 2027”
2026-09-16 · IREN Q4 adj. EPS $(0.74) misses; BTIG sees $4B ARR - scanx.trade View cached copy (2026-09-20)Live source ↗
Checked October 9, 2026 against filings, releases and reporting published after the claim was made. Quotes are verbatim from the linked documents.
The claim, verbatim
The company targeted 300 MW of AI cloud capacity delivery in fiscal 2026
Source (primary)
IREN CEO addresses investor concerns over $25B–$30B capex plan as company pivots from Bitcoin mining to AI - cryptobriefing.com (-, news_article)
View cached copy (2026-09-05)Live source ↗Archive.org ↗
Quote: “The company targeted 300 MW of AI cloud capacity delivery in fiscal 2026, with further expansion planned for 2027.”
How we checked this
Checked on October 10, 2026. The cited source supports every part of this claim.
The article states that IREN targeted 300 MW of AI cloud capacity delivery in fiscal 2026, which is exactly what the claim says.
Confirmed in the source:
- IREN targeted 300 MW of AI cloud capacity delivery in fiscal 2026
What we did: Read our cached copy of the publisher (https://cryptobriefing.com/iren-ceo-30b-capex-ai-pivot/) in full (6,158 characters, retrieved September 5, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms IREN CEO addresses investor concerns over $25B–$30B capex plan as company pivots from Bitcoin mining to AI - cryptobriefing.com
Quote: “The company targeted 300 MW of AI cloud capacity delivery in fiscal 2026, with further expansion planned for 2027.”
delays IREN Slides 4% as JPMorgan Doubles Down With Rare Upgrade to Overweight - finance.biggo.com
Quote: “The company ended June with 40 megawatts of capacity and is likely to reach about 400 megawatts of operational capacity by the end of 2026”
delays IREN Q4 adj. EPS $(0.74) misses; BTIG sees $4B ARR - scanx.trade
Quote: “IREN is targeting about 300 MW of IT load in 2026 and another 500 MW in 2027”