IREN has postponed its target of more than $4 billion in annualized AI revenue from December 31, 2026, to January 31, 2027, possibly extending through the end of February. As of September 30, the company plans $15 billion in remaining fiscal 2027 data-center and GPU spending: $5.8 billion in cash, $3.2 billion in committed funding and $6 billion still to be raised. IREN considers the initial 0.3 GW program fully funded, while its broader target of 0.8 GW by the end of 2027 remains more extensive. In the September quarter, IREN generated $228 million in revenue, including $200 million from AI and $28 million from Bitcoin mining. A five-year contract signed after September 30 represents about $22 million in annual revenue per megawatt of IT capacity, with customer prepayments covering 90% of the associated estimated GPU spending.
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