IREN agrees to US$1.60 billion Dell purchase of Nvidia Blackwell GPUs for Texas data centers, aiming to lift projected annualized run-rate revenue to US$4.40 billion by early 2027.

IREN Limited agreed to a roughly US$1.60 billion purchase of Dell systems using Nvidia's Blackwell GPUs for its Childress, Texas data centers, supporting a five-year US$3.40 billion managed AI cloud services contract with Nvidia.

The deal is intended to help IREN shift from Bitcoin mining toward large-scale AI cloud infrastructure, with the hardware deployment supporting about 60MW of Blackwell systems at the Childress facility.

The purchase is projected to lift IREN's annualized run-rate revenue from US$3.70 billion to US$4.40 billion by early 2027, though the company faces the risk that capital commitments may outpace cash generation if AI demand or contract renewals disappoint.