Compute / the Ledger · 3 deals
Who is paying whom for compute.
Every deal dated, typed in plain words, and linked to the document it comes from.
The LedgerRead against its source
Deals with iren as a party. Show every company
| Announced | Deal | Parties | Type | Value | Terms | Source |
|---|---|---|---|---|---|---|
| 1 Jun 2026 | IREN subsidiary raises ~$3.6B ($1.5B DDTL plus $2.1B of 5.96% senior notes) against its Microsoft GPU contractSignedBorrower/issuer IE US Hardware 3; funds the GPU infrastructure for the 2025-11-02 Microsoft contract. Drawn in tranches until 2027-05-29. Arrangers Goldman Sachs and JPMorgan. |
| Loan against chips | $3.6B~$1.5B delayed draw term loan plus $2.1B of 5.96% senior notes due 2031-12-31. | IREN 8-K, 2026-06-01Regulatory filing | |
| 7 May 2026 | Nvidia signs a $3.4B, five-year AI cloud contract with IREN for air-cooled Blackwell GPUs at ChildressSignedDeployed within 60 MW of existing Childress data centers, ramp targeted from early 2027; supports Nvidia's internal workloads (Q3 FY26 call). Part of a 5 GW strategic partnership under which IREN issued Nvidia a five-year right to buy up to 30M IREN shares at $70 (up to $2.1B), vesting as Nvidia GPU infrastructure is deployed. Accelerator as stated: NVIDIA Blackwell (air-cooled). | Capacity contract | $3.4B | 5 years60 MW | IREN 8-K Ex. 99.1 (Q3 FY26 results), 2026-05-07Regulatory filing | |
| 3 Nov 2025 | Microsoft contracts IREN for Nvidia GB300 capacity at Childress, Texas: ~$9.7B over a five-year average termSignedPartner Statement of Work with IREN subsidiary IE US Hardware 3; Horizon 1-4 facilities, ~200 MW IT load, tranches targeted for 2026. 20% of each tranche's value prepaid. IREN agreed the same day to buy ~$5.8B of GPUs and ancillary equipment from Dell for the contract. Financed in May 2026 (see iren-microsoft-contract-financing-2026-05). Accelerator as stated: NVIDIA GB300. | Capacity contract | $9.7B | 5 years · to 2 Nov 2030200 MWGB300 | IREN 8-K, 2025-11-03Regulatory filing |
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- The end date is the start plus the term, worked out here — it is not a reported figure.
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