According to CoinMeta, as reported by Cryptopolitan, IREN has completed the first milestone of its $9.7 billion contract with Microsoft. The 50-megawatt Horizon facility located in Childress (Texas) has been officially delivered. This facility is equipped with the NVIDIA GB300 system and liquid cooling technology, and has received the Exemplar Cloud certification issued by NVIDIA. Microsoft will complete the GPU acceptance within five days, and IREN monthly billing will then commence. Once all four Horizon facilities are online, the expected annual revenue is approximately $1.94 billion. IREN plans to complete a 200-megawatt deployment in 2026, and in 2027, it will AI expand its cloud computing power to 1.2 gigawatts and exit the Bitcoin mining business. The annual cloud revenue operation target for that year is over $4 billion.