BTC miner IREN lands $9.7B Microsoft deal, accelerating industry pivot to GPUs
Bitcoin miner IREN secured a $9.7 billion, five-year deal with Microsoft for GPU cloud services, accelerating the industry's pivot to AI infrastructure.Summary
Bitcoin mining company IREN has signed a significant five-year agreement with Microsoft valued at $9.7 billion to supply Nvidia GB300 GPUs hosted in its data centers, positioning the company as a major AI cloud services provider. This move underscores a broader industry trend where Bitcoin miners are diversifying revenue by pivoting into AI infrastructure due to tightening margins in traditional mining. Concurrently, IREN announced a separate $5.8 billion deal with Dell Technologies for GPUs and related equipment. Following the Microsoft announcement, IREN shares experienced a sharp surge. IREN joins other miners like HIVE Digital, MARA Holdings, Riot Platforms, and TeraWulf in aggressively pursuing AI and high-performance computing expansion to diversify away from the capital-intensive Bitcoin mining sector.
(Source：Cointelegraph)