Bitcoin-linked infrastructure stocks surged Monday after two major AI cloud deals. IREN, formerly focused on Bitcoin mining and now pivoting to AI data centers, rose nearly 21% intraday after announcing a $9.7 billion agreement with Microsoft to supply Nvidia GB300 GPUs for cloud computing services.
The stock later traded around $67. CEO Daniel Roberts said the deal validates IREN’s position as a trusted AI cloud provider and opens the door to hyperscaler clients.
Separately, Cipher Mining announced a roughly $5.5 billion, 15-year lease deal with Amazon Web Services to deliver 300 MW of data-center capacity for AI workloads by 2026, including liquid-cooled racks. Cipher’s shares rose more than 22% following the announcement.
The agreements reflect an accelerating trend: major tech firms partnering with crypto mining and infrastructure companies to secure scarce computing resources as demand for AI capacity intensifies. Cipher recently signed another multibillion-dollar hosting agreement backed by Google, underscoring the growing convergence between AI and crypto infrastructure.
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