08/24/2026
For months, IREN was seen as a Bitcoin miner calling itself an artificial intelligence company. But the company recently announced that Horizon 1, the first of four data centers it is building for , has been delivered and formally accepted. Microsoft had a five-day window to test the deployment against agreed standards, and once it signed off, IREN was cleared to start sending monthly invoices to Microsoft. This is the first revenue from a five-year $9.7 billion contract, not another promise about capacity to come. https://buff.ly/7zZIKXa
IREN's first Microsoft data center is now live, giving investors early proof that its AI pivot can turn massive contracts into revenue.