Bitcoin Miner IREN Shifts to AI with $9.7B Microsoft Deal
Bitcoin miner IREN partners with Microsoft in a $9.7B deal to provide AI cloud infrastructure, signaling a major pivot from crypto to AI.
- IREN signs $9.7B AI cloud deal with Microsoft
- Marks IREN’s biggest move away from crypto mining
- Focus now on building AI infrastructure using GPUs
Bitcoin miner IREN is making headlines with a major shift in its business strategy. The company, once focused heavily on cryptocurrency mining, has now partnered with tech giant Microsoft in a groundbreaking $9.7 billion cloud computing deal. This marks IREN’s largest pivot yet—stepping into the world of artificial intelligence infrastructure.
From Mining Coins to Powering AI
The partnership will see IREN providing Microsoft with access to powerful GPU cloud infrastructure. GPUs, or Graphics Processing Units, are key to powering advanced AI models like ChatGPT and image generators. IREN plans to repurpose its existing data centers, originally built for Bitcoin mining, to support Microsoft’s growing demand for AI computing power.
This shift demonstrates how the crypto mining industry is evolving. As Bitcoin mining becomes less profitable due to rising energy costs and network difficulty, companies like IREN are turning to the booming AI sector to stay competitive and profitable.
A Strategic Shift for Long-Term Growth
With the $9.7 billion agreement, IREN is positioning itself as a key player in the AI infrastructure race. Microsoft has been expanding its AI capabilities rapidly, and this deal provides them with the hardware backbone needed for large-scale AI operations.
For IREN, the move offers diversification. Rather than relying solely on crypto markets, the company is tapping into AI—a sector projected to grow exponentially over the next decade. This partnership could potentially unlock new revenue streams and reduce IREN’s exposure to crypto market volatility.
