# IREN Moves $4 Billion Microsoft-Linked Revenue Target Into 2027

By Simon Yoon

Canonical URL: https://www.tokenpost.com/news/technology/50946
Published: 2026-11-07T16:47:04.000Z
Updated: 2026-11-07T16:47:04.000Z
Section: Technology

> The Texas project’s revised target follows a customer-requested design change and supplier timing, with a possible extension through February.

IREN has moved its target for putting more than $4 billion in contracted annualized revenue from its Texas data-center program for Microsoft into operation from year-end 2026 to early 2027.

The target is Jan. 31, 2027, with a possible extension through February. A customer-requested design change and supplier timing shifted the schedule. Revenue depends on delivery, commissioning, testing and customer acceptance.

The Microsoft agreement is valued at about $9.7 billion through 2031 and covers four Childress, Texas, tranches with a combined 200 megawatts of IT load. Horizon 1 was accepted in August 2026; Horizons 2–4 were in late-stage construction, with no separate updated delivery dates given.

Microsoft disclosed delays to some third-party capacity deliveries expected in its first fiscal quarter, but did not name IREN. Its capital spending was $45.2 billion for the quarter ended Sept. 30, and it projected about $170 billion for calendar 2026 as third-party capacity delays affected spending.