IREN pushes $4 billion AI cloud target to 2027, $6 billion capex still unfinanced

IREN, a bitcoin miner pivoting to AI cloud services, pushed its $4 billion AI cloud revenue target into 2027, citing a customer-requested change and supplier timing. The company still has $6 billion of capital expenditure to finance, even as AI cloud revenue reached $200 million last quarter. Traders watching miner-to-AI transitions will weigh the delay and unfunded capex against the revenue growth, a mixed signal for IREN and sentiment around BTC miners diversifying.