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Microsoft has finalized a $9.7 billion, five-year agreement to purchase AI cloud capacity from IREN Ltd., aiming to bolster its Azure services amid high demand.
A Bitcoin mining company's stock has surged over 500% this year by shifting its focus to providing essential power and infrastructure for the booming AI industry.
Bitcoin miners Bitdeer and Iren see significant developments. Bitdeer shifts to AI and HPC with new data centers, while Iren secures a $1 billion offering and receives doubled price targets from analy
Australian company Iren has transitioned from Bitcoin mining to providing specialized AI computing infrastructure, leveraging its expertise in energy and cooling.
Bitcoin miner Iren announced new multiyear AI cloud service contracts, causing its stock and others in the sector to surge amid a strategic pivot to AI.
IREN Limited has signed new multi-year contracts for NVIDIA Blackwell GPUs, securing $225 million in annualized revenue as it targets over $500 million by 2026.
Bernstein analysts have raised their price target for bitcoin miner IREN to $75, citing the company's rapid and successful expansion into AI cloud services.
Iren's stock rose 8.4% after it doubled its AI cloud capacity, contrasting with a major crypto sell-off where Bitcoin fell below $112,200. Gold hit a record high.
