By Marco Piccolo Key highlights: IREN signs a five-year, $9.7 billion cloud compute agreement with Microsoft, making it the tech giant’s largest AI cloud provider. The deal includes phased deployment of Nvidia GB300 GPUs and $5.8 billion in equipment supplied via Dell Technologies. IREN shares soar over 20%, extending a year-to-date rally of more than […]
Tag: IREN
By ItalianCannon Key Points This outperformance stems from a strategic pivot toward artificial intelligence infrastructure, blending high-performance computing with traditional mining operations. Companies like Cipher Mining and IREN have secured billions in funding to support this dual-revenue model, reducing dependence on volatile block rewards. The Bitcoin halving in 2024 reduced block rewards to 3.1 BTC, […]
By Marco Piccolo Key highlights: Bernstein raises IREN’s price target from $20 to $75, citing its aggressive move into AI cloud services. IREN is now the largest public bitcoin miner by market cap, with shares up over 500% in six months. Analysts estimate AI will account for 87% of IREN’s value, with bitcoin mining contributing […]