IREN Launches First AI Cloud Node for Microsoft

IREN has successfully brought its first AI cloud deployment online as part of a significant agreement with Microsoft. This project is the first of four planned deployments that aim to move the company away from its traditional focus on bitcoin mining. The firm is scaling up its infrastructure to support high performance computing needs.

This shift is part of a larger plan to reach 480 megawatts of AI cloud capacity by 2026. Looking further ahead, the company aims to hit 1.2 gigawatts of capacity by 2027. The deal with Microsoft is valued at approximately 9.7 billion dollars.

Investors are watching this pivot closely as the company transitions its business model. While bitcoin mining remains a core part of its history, the move toward cloud and AI services marks a new direction for the firm in the competitive tech infrastructure sector.