This Bitcoin Miner's Stock Is Soaring on a $9.7B AI Data Center Deal With Microsoft
Update: 2025-11-03
Description
IREN, an Australian Bitcoin miner and data center operator, has secured a $9.7 billion deal with Microsoft, sending its stock to record highs. The company is shifting its focus to AI infrastructure, spending $5.8 billion on Nvidia chips through Dell Technologies. This move aims to provide Microsoft with more computing power for advanced AI tasks, making IREN a key player in the AI race. The company plans to fund this investment through cash, prepayments, operations, and creative financing options. IREN's stock has surged nearly 600% this year, signaling a bold pivot and potential for further dramatic moves in the AI world.
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