IREN Seeks $6 Billion in Additional Funding for AI Data Center Expansion
Bitcoin miner IREN has announced a $15 billion capital expenditure plan for fiscal 2027 to fuel its expansion into AI data center infrastructure. While approximately $9 billion of this requirement is already accounted for through cash, committed GPU financing, and customer prepayments, the company faces a $6 billion funding gap that it intends to close via targeted GPU financing, data center debt, and corporate sources. The expansion is anchored by a massive $9.7 billion contract with Microsoft signed in November 2025, which includes significant prepayments for NVIDIA GB300 GPUs. IREN's infrastructure buildout is centered at its 750-megawatt Childress, Texas campus. Despite some timeline shifts regarding revenue targets due to design changes and supplier timing, the company reported that operating annualized run-rate (ARR) doubled to $1 billion during the quarter.
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Topics: AI Data Centers Capital Spending Cloud Infrastructure GPU Financing