Overview
- Fiscal Q1 revenue rose 355% to $240.3 million with net income of $384.6 million and earnings of $1.08 per share, topping estimates.
- The five-year Microsoft contract includes a roughly 20% prepayment, phased deployments at the Childress campus, and an expected $1.9 billion ARR contribution once fully online.
- IREN plans expansion to about 140,000 GPUs and liquid‑cooled capacity at Childress, while converting 160MW in British Columbia to GPUs by end‑2026 and energizing key Sweetwater Hub substations over the next two years.
- The company reports strengthened funding with $1 billion in zero‑coupon convertible notes, $400 million in GPU financing, and $1.8 billion in cash and equivalents as of Oct. 31.
- Shares swung after earnings, falling more than 12% Thursday and trading mixed Friday, as the CEO noted interest from multiple parties in deals larger than the 200MW signed with Microsoft and analysts adjusted price targets.