IREN Announced $2.8 Billion in New AI Contracts and Raised Its 2026 ARR Target to Over $4 Billion

On July 20, 2026, IREN announced $2.8 billion in new contracts with leading AI developers and raised its 2026 annual recurring revenue (ARR) target to over $4 billion. ARR annualizes contracted recurring revenue, so it is not quarterly revenue. Both figures are commitments and targets, not reported results. Its first-quarter results, due November 5, will test them.