IREN inventory rocketed up after the previous Bitcoin miner and knowledge heart firm mentioned it had inked a $9.7 billion cope with Microsoft within the newest transaction between a Magnificent Seven agency and crypto infrastructure supplier.
Sydney, Australia-based IREN, which has pivoted to AI cloud computing, shot as much as practically $73 per share Monday morning New York time—a virtually 21% rise. IREN has since settled at round $67.30.
The deal will permit Microsoft to entry to Nvidia’s NVIDIA GB300 GPUs because it presses forward with its AI ambitions. Microsoft inventory additionally rose on the information.
“This settlement not solely validates IREN’s place as a trusted supplier of AI Cloud companies, but in addition opens entry to a brand new buyer section amongst world hyperscalers,” IREN co-founder and CEO Daniel Roberts mentioned in an announcement.
$IREN is happy to announce the signing of a $9.7bn AI Cloud contract with @Microsoft
Key particulars of the transaction:
– $9.7bn AI Cloud contract worth
– 5-year common time period
– 20% prepayment
– 200MW (IT load) knowledge facilities
– NVIDIA GB300 GPU deploymentsSeek advice from the press… pic.twitter.com/SEY489QRG4
— IREN (@IREN_Ltd) November 3, 2025
The information got here as Bitcoin miner Cipher Mining on Monday introduced an roughly $5.5 billion, 15-year lease settlement with Amazon Internet Companies to offer turnkey house and energy for AI workloads.
Cipher will ship 300 MW of capability in 2026, together with each air and liquid cooling to the racks, an announcement mentioned. Nasdaq-listed Cipher’s inventory rose on the information; it was just lately buying and selling about 22% larger.
Prime tech firms are making offers with knowledge heart corporations in a bid to snap up compute as demand for AI will increase. Cipher in September signed a 10-year, roughly $3 billion high-performance computing colocation settlement with Fluidstack, backed by Google.
Google additionally in August mentioned it was upping its stake in Bitcoin miner Terawulf by offering an incremental $1.4 billion backstop to assist project-related debt financing—bringing its complete stake to $3.2 billion.
Within the Bitcoin mining world, firms use warehouses stuffed with computer systems to course of transactions on the crypto community. As a result of they’ve amassed a lot computing energy, some miners are pivoting their infrastructure to handle rising AI demand.
Bitcoin was just lately buying and selling at $106,700, down 3.1% over the previous 24 hours and greater than 7% in the course of the previous week, in line with crypto market knowledge supplier CoinGecko. In a Myriad prediction market, practically 60% of respondents agree with crypto entrepreneur KBM who consider BTC will sink to $100,000 with the rest agreeing with dealer Mando, who thinks the asset’s subsequent transfer will likely be to $120,000.
