IREN Says 2026 AI Capacity Is Largely Sold Out as Pipeline Tops 5GW

📅 August 28, 2026 - IREN says its 2026 AI infrastructure capacity is largely sold out as the former Bitcoin miner races to expand a data center pipeline exceeding 5GW. The company is targeting roughly 300MW of cumulative IT capacity this year and 800MW in 2027, turning scarce power and GPU access into a fast-growing but capital-heavy hosting business for AI customers.

For infrastructure buyers, the numbers point to a market where access to energized, GPU-ready capacity is becoming commercially distinct from simply owning land or announcing future campuses. IREN says it already has $4 billion of contracted annualized run-rate revenue tied to 2026 capacity, against roughly $1 billion of operating ARR today. [...][... Check source for end of article ...]

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