$3.7bn ARR Target for End of 2026
Company: IREN
The claim, verbatim
Targeting $3.7bn annual recurring revenue by end of 2026, comprised of $1.9bn expected revenue under Microsoft contract and $1.8bn ARR from approximately 74,000 GPU deployments at British Columbia and Childress sites
Source (primary)
iren 8-K exhibit (irenreportsq3fy26results.htm) (SEC EDGAR (8-K Ex), press_release)
View cached copy (2026-09-08)Live source ↗
Quote: “targeting $3.7bn ARR by end of CY26”
How we checked this
Checked on September 19, 2026. The cited source supports every part of this claim.
Note 1 breaks the $3.7bn ARR target into $1.9bn Microsoft revenue and $1.8bn from ~74k GPUs at British Columbia and Childress.
Confirmed in the source:
- IREN is targeting $3.7bn ARR by end of CY26
- The $3.7bn comprises $1.9bn expected average annual revenue under the Microsoft contract
- The remainder is $1.8bn ARR from approximately 74,000 GPU deployments at British Columbia and Childress sites
What we did: Read our cached copy of SEC EDGAR (8-K Ex) (https://www.sec.gov/Archives/edgar/data/1878848/000187884826000025/irenreportsq3fy26results.htm) in full (30,392 characters, retrieved September 8, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms iren 8-K exhibit (irenreportsq3fy26results.htm)
Quote: “targeting $3.7bn ARR by end of CY26”