IREN Q1 2026 earnings call transcript

Key points

On its fiscal Q3 FY2026 call (March 2026 quarter), IREN announced a landmark $3.4 billion five-year contract with NVIDIA and reported roughly $3.1 billion in contracted annualized recurring revenue with operational capacity fully contracted. Secured power capacity increased to 5 GW globally, with expansion into Europe via the Nostrum acquisition and progress on APAC opportunities in Australia. The shift from Bitcoin mining to AI cloud accelerated, with 480 MW of capacity targeted for 2026 and a planned 1,210 MW platform for 2027.