Add as a preferred source on GoogleIREN Shares Rise 5.26% Premarket to $37.04 on Oct. 12
The data-center operator has not named the “leading frontier AI lab” tied to its multiyear AI Cloud contract.
IREN shares rose 5.26% to $37.04 in premarket trading Monday as the data-center operator continued shifting capacity from Bitcoin mining toward artificial-intelligence workloads.
IREN traded $1.85 above its prior close of $35.19 at 5:30 a.m. ET (9:30 UTC) on Oct. 12. The company has not publicly identified the customer tied to its recently disclosed AI Cloud contract.
IREN disclosed in August that it had signed a multiyear AI Cloud contract with a “leading frontier AI lab,” without naming the customer or providing terms. Its fiscal 2026 filing said the contract was entered into in August.
The company reported $4 billion in contracted annualized revenue for 2026 capacity and $1 billion in operating annualized revenue as of Aug. 26. IREN is using its data centers, power capacity and GPUs for artificial-intelligence workloads.
The company is moving capacity from Bitcoin (BTC) mining toward AI cloud services as it expands its customer base across AI-related business lines.
The unnamed contract’s value, duration, start date and GPU capacity remain undisclosed.
John Kim
John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.