IREN secures $1.6B Dell Blackwell deal to scale AI cloud

On May 26, 2026, IREN announced a $1.6 billion purchase agreement with Dell for Nvidia Blackwell systems to support a five‑year, $3.4 billion managed AI cloud contract. The hardware will be deployed at IREN’s Childress, Texas data centers and is expected to lift annualized run‑rate revenue from $3.7 billion to $4.4 billion once fully online in early 2027.