According to Dongcha Beating monitoring, Bitcoin mining firm IREN Limited (NASDAQ: IREN) announced its third-quarter performance for the 2026 fiscal year and revealed significant business updates. The company signed a $340 million, 5-year AI Cloud contract with NVIDIA, deployed Blackwell GPUs, and secured a 5GW strategic partnership. NVIDIA has the option to subscribe to up to 30 million shares of IREN common stock, with a potential investment of $2.1 billion.

IREN is accelerating its transition from Bitcoin mining to AI Cloud, aiming to expand to 480MW by 2026 (operating capacity fully contracted, with contract ARR reaching $3.1 billion and a year-end target of $3.7 billion); the under-construction capacity is expected to reach 1.21GW by 2027, with the acquisition of Nostrum (490MW in Spain) and Mirantis to strengthen its presence in Europe and enhance software capabilities, locking in 5GW of global power resources.

The Q3 financial report shows IREN's total revenue was $14.48 billion (a decrease from the previous quarter, mainly due to reduced Bitcoin mining revenue and hardware decommissioning), while AI Cloud revenue grew by 94% to $33.6 million. The net loss was $24.78 billion (including a $14.04 billion non-cash impairment), with adjusted EBITDA of $59.5 million. The company's cash reserves remain strong, standing at approximately $26 billion as of the end of April.