IREN has completed Horizon 1, a 50-megawatt AI cloud deployment at its Childress, Texas campus, marking the first delivery under a five-year, $9.7 billion cloud services agreement with Microsoft signed in November 2025. The site uses direct chip-level liquid cooling and has received Nvidia Exemplar Cloud certification, indicating it meets the chipmaker's standards for AI workload performance and reliability. Horizon 1 is the first of four planned deployments, with the remaining three phases due for delivery later this year. Together, the four Horizon sites are set to provide 200 megawatts of IT capacity using Nvidia GB300 GPUs, underscoring IREN's expansion from Bitcoin mining into AI cloud infrastructure.