IREN Restricted (NASDAQ: IREN) and Cipher Mining Inc. (NASDAQ:CIFR), Bitcoin miners pivoting to AI infrastructure suppliers, are making some hefty enterprise strikes right now, and their shares have been reflecting it.
IREN signed a five-year, $9.7 billion settlement with Microsoft for GPU cloud computing providers. The deal offers Microsoft entry to NVIDIA GB300 GPUs managed by IREN at its Childress, Texas campus, with a phased deployment of GPU capability all through 2026.
The contract features a 20% prepayment and positions IREN as a key hyperscaler accomplice for the primary time.
4 new liquid-cooled information facilities, Horizon 1 via Horizon 4, will assist 200 megawatts of essential IT load, whereas a separate $5.8 billion settlement with Dell Applied sciences covers the acquisition of GPUs, servers, and related infrastructure.
CEO Daniel Roberts stated the partnership may generate roughly $1.94 billion in annualized income as soon as absolutely deployed. Following the announcement, IREN shares jumped greater than 28% in pre-market buying and selling.
The inventory is now up 8% in intraday buying and selling. IREN, which has seen its Nasdaq inventory surge over 500% this yr, joins different AI-focused “neocloud” suppliers, a lot of which originated in cryptocurrency mining.
Cipher Mining’s cope with Amazon
In the meantime, Cipher Mining secured a $5.5 billion, 15-year lease settlement with Amazon Net Providers (NASDAQ: AMZN) to supply turnkey house and energy for AI workloads.
Cipher will ship 300 megawatts of capability in 2026 via air- and liquid-cooled services in two phases, with hire beginning in August 2026. Moreover, the corporate introduced a three way partnership to develop a 1-gigawatt website named “Colchis” in West Texas, wherein it can maintain roughly 95% fairness.
Mixed with prior offers with Fluidstack and Google, Cipher’s AI internet hosting contracts now symbolize roughly $8.5 billion in lease funds.
Cipher shares rose 15% in pre-market buying and selling following the information. The inventory is now up 14% in intraday buying and selling.
Bitcoin mining success with an AI twist
Bitcoin mining and crypto infrastructure shares have seen a giant rally over the previous six months, and IREN Restricted is a standout instance.
Buyers have rewarded firms that may mix conventional bitcoin mining with scalable, revenue-generating AI or data-center providers.
In IREN’s case, the inventory’s current surge comes after a significant GPU growth and analyst upgrades, and now this new Microsoft information helps increase the worth.
This displays a wider market urge for food for miners that provide optionality: regular bitcoin money flows to fund new ventures, whereas additionally positioning for high-growth know-how traits.
In essence, the previous half-year has favored bitcoin-mining companies that may monetize extra energy, land, and data-center capability past mining.
The rally is much less about bitcoin costs alone and extra about miners evolving into hybrid tech infrastructure operators with diversified income streams.
