IREN Ltd. (NASDAQ:IREN) told investors on its earnings call Thursday that this year’s data center capacity is essentially spoken for, shifting the conversation toward the 2027 and 2028 buildouts.
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IREN Co-Founder and Co-CEO Daniel Roberts delivered the headline early in the call with analysts.
“Our 2026 capacity is largely sold out,” he said. “So the questions we get now are all about 2027 and 2028.”
Talks with prospective customers have already advanced well past the early stages, he added: “We’re in late-stage discussions with a range of new customers over a significant portion of 2027 capacity and 2028 conversations are well underway too, both on customers and financing.”
