IREN Limited Secures AI Cloud Service Contracts with NVIDIA GPU Deployment

According to Foresight News, data center operator and Bitcoin mining company IREN Limited (IREN.US) has announced the signing of additional multi-year cloud service contracts with several artificial intelligence (AI) firms. These agreements involve the deployment of NVIDIA's (NVDA.US) Blackwell series GPUs. Currently, contracts have been signed for 11,000 out of the 23,000 GPUs, corresponding to an estimated $225 million in annual recurring revenue (ARR) from AI cloud services. The deployment is expected to be operational by the end of 2025. As of the time of reporting, IREN's stock price has risen by 14.45% in pre-market trading.