Iren secures $9.7 billion cloud services contract with Microsoft

Iren, a cryptocurrency mining company expanding into data center operations, announced a five-year cloud services contract with Microsoft valued at $9.7 billion. The deal begins with the Horizon 1 deployment, a 50-megawatt stage at the company’s campus in Childress, Texas.

Nvidia has granted the deployed system architecture, the Nvidia GB300 NVL72, Exemplar Cloud status, certifying the quality of the deployment. Iren aims to reach 480 megawatts of gross AI cloud capacity in 2026 and 1.2 gigawatts by next year.