Crusoe and @Lancium hosted a Childress, TX, job fair near our 1.0 GW, 270-acre AI campus-in-progress. 👥 450 job seekers 💼 30+ positions filled Thanks @WorkforceSP + @DPRConstruction for supporting! More on how we’re investing in the future of Childress County: 🔗

2026 Season Stats @LanceHarvell @CoachHannahs @Rob_Childress @CoachLuke5 @CoachReif @32JonnyA @3strikes_AU @williebloom @CoachT_RZRBacks @CoachMegahee @RudyCox_6 @T_Rost12 @earleybaseball @Gierke12 @MitchHolland10 @CoachSimmons4 @_erictyler @elbin_kurt @VTCoachSzefc @PuccioNick

Execution at scale. From Childress and Sweetwater in Texas to Mackenzie, Prince George and Canal Flats in British Columbia. IREN is building across multiple campuses simultaneously, with development advancing at Kiowa (Oklahoma), Bundey (Australia) and Badajoz (Spain). Over 4,000 personnel. Millions of work-hours completed to date. Building at speed and scale. That is the advantage of IREN's vertically integrated model.

Year 2 / League Stats @32JonnyA @LanceHarvell @CoachHannahs @CoachLuke5 @CoachReif @Rob_Childress @matt_reida @jamesramsey23 @JonCoyne33 @RudyCox_6 @MattRiser17 @jakevalentine9 @CoachMikeBianco @kirbdog88888 @SirianniMike @jaxonsc @T_Rost12 @DWoo22 @earleybaseball @elbin_kurt

Texas went blue. What does it mean for $IREN? Childress is already running Microsoft's Horizons. Sweetwater 1 is approved and underway. New Texas approvals were already paused in August. A Democratic governor may extend that. Future Texas build-outs carry more risk. However, that also makes compute scarcer, and capacity that's already approved becomes more valuable. Texas isn’t the entire pipeline: > Europe: ~300MW in Spain > Australia: 800MW at Bundey > "And Beyond", in IREN's own words Yes it’s not good news for DCs but I think $IREN will be fine.

$IREN genuinely curious what deal economics look like with Anthropic. Assuming this is a 5YR+ deal which @Agrippa_Inv suggests could anchor 50MW of GB300 capacity at Childress. FYI in August, Anthropic signed a 6YR $44.6B deal with Nscale for 460MW of Rubin compute at its Monarch campus. That works out to $16.2MM/MW/YR in annualized contract value. Granted, Nscale's deal covers substantially more capacity on newer-generation silicon, and the contract structures may differ, so it's not apples-to-apples with $IREN. And if you're thinking about the ~$30MM/MW/YR headline from Anthropic's deal in May with $SPCX, that is a highly unusual arrangement. 1/ Near-immediate scale deployment Anthropic contracted 325K GPUs across Colossus I & II, with capacity ramping in May–June 2026. They're paying a premium for compute available almost immediately. 2/ Short-term commitment, long-term optionality 6 month minimum commitment, with either party able to terminate on 90 days notice after the initial 3 months. Otherwise, the agreement can run through May 2029 at $1.25B/month. Either party can walk away though, so hard to quantify how that flexibility factors into pricing.

$IREN reportedly signed a cloud deal with Anthropic potentially confirming the identity of the unnamed frontier AI lab management referenced during earnings. While terms remain undisclosed I suspect the agreement covers 50 MW of B300 capacity coming online at Childress this year.