By Simply Wall St
Publication Date: 2026-03-16 08:08:00
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IREN (NasdaqGS:IREN) has secured a $9.7b, 200 MW infrastructure agreement with Microsoft to supply capacity for AI workloads.
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The deal supports IREN’s shift away from a pure crypto mining focus toward broader AI infrastructure services.
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The agreement includes substantial funding commitments from Microsoft, without immediate dilution for existing shareholders.
For investors tracking IREN at a current share price of $41.58, the Microsoft contract introduces a new reference point for the business. The stock has seen a very large 1 year return, alongside a 7.1% gain over the past week, while return over the past month is a 1.5% decline. These mixed shorter term moves sit alongside a multi year performance that is reported as more than 10x over 3 years.
This new AI focused contract could influence how the market frames IREN, shifting attention from crypto…