IREN agreed to buy Dell air-cooled Blackwell AI systems for $1.6bn to equip its Childress, Texas campus for a five-year, $3.4bn managed services contract. Commissioning by early 2027 will boost the company's ARR from $3.7bn to $4.4bn.
IREN has entered a purchase agreement with Dell for approximately $1.6bn in air-cooled Blackwell AI systems, covering GPUs, servers, storage, networking, integration services and warranties. This hardware investment supports IREN’s existing five-year, $3.4bn AI cloud managed services contract and follows the company’s strategy of advancing GPU financing for large-scale deployments.
The Blackwell systems will be installed across IREN’s Childress, Texas data center, with commissioning targeted for early 2027. IREN emphasizes accelerated time-to-compute as a market differentiator, aiming to compound execution advantage by streamlining subsequent deployments.
Once operational, the new hardware is expected to raise IREN’s annualized run-rate revenue from $3.7bn to $4.4bn, reflecting conversion of GPU capacity into contracted revenue. This increase includes contributions from the Microsoft agreement, the core $3.4bn AI cloud contract, and planned GPU rollouts at British Columbia and Childress sites.
