Iris Energy Limited Ordinary Shares Q2 2026 Earnings Recap

IREN delivered strong Q2 FY 2026 results, highlighted by significant financing achievements and robust customer demand for AI cloud services.

Key Takeaways

• Secured $3.6 billion in GPU financing at sub-6% interest, providing funding for 95% of CapEx linked to a $9.7 billion AI contract with Microsoft.
• Expect to deliver 140,000 GPUs by the end of 2026, positioning for $3.4 billion in annualized run rate revenue.
• Expanded operational capacity with over 4.5 gigawatts of secured power and continued development of new data centers.
• Strong customer demand remains unabated, with ongoing negotiations for larger-scale deployments.
• Vertical integration strengthens competitive advantage, enabling end-to-end control over data center operations and project execution.