Microsoft's $9.7 billion deal with IREN shows bitcoin miners' AI pivot is paying off
Update: 2025-11-03
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**Summary:**Microsoft and IREN, a former bitcoin miner turned data center operator, have formed a significant partnership, with Microsoft becoming IREN's largest customer for the next five years. This deal, along with IREN's separate partnership with Dell Technologies, signals a shift in the tech world as bitcoin miners pivot towards supplying the infrastructure for artificial intelligence. Other major miners like Riot, TeraWulf, and Cipher Miner are also following suit, focusing less on bitcoin mining and more on AI data centers. This strategic move has led to a surge in their stock prices and has caught the attention of financial analysts, with IREN's stock receiving a buy rating and a price target of seventy-five dollars. The once-volatile world of crypto mining is now stepping into a new era, where powering the tools behind artificial intelligence could prove more valuable than mining coins.
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