IREN Watch posted an update
IREN’s $4bn annualised AI-cloud revenue target has slipped to January 2027, with February possible, TradingView reports. The more awkward detail: $6bn of the company’s remaining $15bn fiscal 2027 capital spending still depends on finding funding.
Why it mattersThe report also puts IREN’s net debt at $4.43bn. Its AI-cloud revenue nearly tripled to $200m, lifting total revenue to $228m, while bitcoin-mining revenue fell to $28m. Growth is real in the figures, but so is the bill for building the capacity behind it. The practical test is whether IREN can secure the money and bring contracted capacity online on schedule.
Discuss: How much funding risk should investors accept for a fast-growing AI-cloud business?
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