Recently, Nasdaq-listed Bitcoin mining company IREN released its latest financial results. As of January 31, 2026, the company held a robust $2.8 billion in cash and cash equivalents, demonstrating strong financial health.
Diversified Funding Sources and Strategic Move into AI
The report revealed that IREN has raised more than $9.2 billion this fiscal year through customer prepayments, convertible bonds, GPU leasing, and GPU financing. These resources will support its strategic transition into the artificial intelligence domain.
- Plans to deploy an additional 140,000 GPUs are underway
- Targeting $3.4 billion in annual recurring revenue by the end of 2026
- AI is positioned as a core growth driver for the company
This shift marks IREN's evolution from a Bitcoin-focused miner to a broader player in high-performance computing and AI applications. With global demand for AI solutions surging, IREN aims to leverage its hardware and infrastructure expertise to capture early opportunities in emerging markets.