{"id":10264,"date":"2026-07-20T20:32:10","date_gmt":"2026-07-21T00:32:10","guid":{"rendered":"https:\/\/hostingdiscussion.com\/news\/?p=10264"},"modified":"2026-07-20T20:32:10","modified_gmt":"2026-07-21T00:32:10","slug":"former-bitcoin-miner-iren-lands-2-8b-in-new-ai-cloud-contracts","status":"publish","type":"post","link":"https:\/\/hostingdiscussion.com\/news\/former-bitcoin-miner-iren-lands-2-8b-in-new-ai-cloud-contracts\/","title":{"rendered":"Former Bitcoin miner Iren lands $2.8B in new AI cloud contracts"},"content":{"rendered":"<p class=\"font-claude-response-body break-words whitespace-normal\" dir=\"auto\">A company that used to mine Bitcoin is now signing multi-billion-dollar cloud contracts with some of the biggest names in AI, and the pivot looks like it&#8217;s paying off.<\/p>\n<p class=\"font-claude-response-body break-words whitespace-normal\" dir=\"auto\"><a href=\"https:\/\/iren.com\/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Iren<\/a>, formerly known as Iris Energy, announced this week that it has secured $2.8 billion in new multi-year cloud services agreements with what it describes only as &#8220;leading AI developers.&#8221; The company didn&#8217;t name the specific customers behind these new deals, but it did confirm its broader client roster now includes <a href=\"https:\/\/hostingdiscussion.com\/news\/microsoft-strikes-9-7b-deal-with-iren-to-expand-ai-compute-power\/\">Microsoft<\/a>, <a href=\"https:\/\/hostingdiscussion.com\/news\/iren-doubles-down-on-ai-cloud-with-fresh-nvidia-gpu-haul\/\">Nvidia<\/a>, Perplexity, Figure AI, Together AI, Fluidstack, Fireworks AI, Fal AI, and Hume AI, all using Iren&#8217;s bare-metal and managed cloud infrastructure.<\/p>\n<p class=\"font-claude-response-body break-words whitespace-normal\" dir=\"auto\">The new contracts, averaging four years in length, pushed <a href=\"https:\/\/hostingdiscussion.com\/news\/iren-seals-1-6b-dell-deal-to-power-its-growing-ai-cloud-infrastructure\/\">Iren<\/a> to raise its expected annualized revenue run rate for 2026 from $3.7 billion to more than $4 billion. The company says signed contracts now cover roughly 85 percent of its target ARR, a meaningful jump in visibility for a business that was mining cryptocurrency not that long ago.<\/p>\n<p class=\"font-claude-response-body break-words whitespace-normal\" dir=\"auto\">Co-CEO Daniel Roberts framed the growth in terms of infrastructure scale rather than just contract value. Iren grew from about 3 megawatts of self-built AI cloud capacity a year ago to 480 megawatts this year, with a target of 1.2 gigawatts by 2027. That jump in physical build-out reflects just how much capital is flowing into AI compute infrastructure right now.<\/p>\n<p class=\"font-claude-response-body break-words whitespace-normal\" dir=\"auto\">The company operates data center sites across Texas, Oklahoma, and <a href=\"https:\/\/hostingdiscussion.com\/news\/iren-quietly-drops-130m-cash-to-lock-in-rare-blackwell-gpus\/\">British Columbia<\/a>, and has been expanding aggressively in recent months. It acquired Spanish data center developer Nostrum, announced an 800-megawatt campus in Australia, and energized the first phase of a 2-gigawatt campus in Texas.<\/p>\n<p class=\"font-claude-response-body break-words whitespace-normal\" dir=\"auto\">Nvidia&#8217;s involvement goes beyond being a customer. In May, the chipmaker revealed a $2.1 billion investment in Iren specifically tied to deploying up to 5 gigawatts of its DSX compute hardware, tying the two companies together well beyond a standard vendor relationship.<\/p>\n<p class=\"font-claude-response-body break-words whitespace-normal\" dir=\"auto\">Iren&#8217;s trajectory reflects a broader pattern among former crypto miners: companies that built infrastructure and power access for Bitcoin mining are finding that same infrastructure surprisingly well suited to AI compute, where demand for power-hungry data centers shows no sign of slowing down.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A company that used to mine Bitcoin is now signing multi-billion-dollar cloud contracts with some of the biggest names in AI, and the pivot looks like it&#8217;s paying off. Iren, formerly known as Iris Energy, announced this week that it has secured $2.8 billion in new multi-year cloud services agreements with what it describes only [&hellip;]<\/p>\n","protected":false},"author":20624,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[7446,7447,7449,3951,7448],"class_list":["post-10264","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-ai-cloud-contracts","tag-bitcoin-miner","tag-hyperscale-compute-capacity","tag-iren","tag-nvidia-data-center"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Former Bitcoin miner Iren lands $2.8B in new AI cloud contracts - Web Hosting News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/hostingdiscussion.com\/news\/former-bitcoin-miner-iren-lands-2-8b-in-new-ai-cloud-contracts\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Former Bitcoin miner Iren lands $2.8B in new AI cloud contracts - Web Hosting News\" \/>\n<meta property=\"og:description\" content=\"A company that used to mine Bitcoin is now signing multi-billion-dollar cloud contracts with some of the biggest names in AI, and the pivot looks like it&#8217;s paying off. Iren, formerly known as Iris Energy, announced this week that it has secured $2.8 billion in new multi-year cloud services agreements with what it describes only [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/hostingdiscussion.com\/news\/former-bitcoin-miner-iren-lands-2-8b-in-new-ai-cloud-contracts\/\" \/>\n<meta property=\"og:site_name\" content=\"Web Hosting News\" \/>\n<meta property=\"article:published_time\" content=\"2026-07-21T00:32:10+00:00\" \/>\n<meta name=\"author\" content=\"Justine Juyad\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Justine Juyad\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/hostingdiscussion.com\/news\/former-bitcoin-miner-iren-lands-2-8b-in-new-ai-cloud-contracts\/\",\"url\":\"https:\/\/hostingdiscussion.com\/news\/former-bitcoin-miner-iren-lands-2-8b-in-new-ai-cloud-contracts\/\",\"name\":\"Former Bitcoin miner Iren lands $2.8B in new AI cloud contracts - Web Hosting News\",\"isPartOf\":{\"@id\":\"https:\/\/hostingdiscussion.com\/news\/#website\"},\"datePublished\":\"2026-07-21T00:32:10+00:00\",\"dateModified\":\"2026-07-21T00:32:10+00:00\",\"author\":{\"@id\":\"https:\/\/hostingdiscussion.com\/news\/#\/schema\/person\/3a1732732b90f8c57c2a0ec68d3c49e3\"},\"breadcrumb\":{\"@id\":\"https:\/\/hostingdiscussion.com\/news\/former-bitcoin-miner-iren-lands-2-8b-in-new-ai-cloud-contracts\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/hostingdiscussion.com\/news\/former-bitcoin-miner-iren-lands-2-8b-in-new-ai-cloud-contracts\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/hostingdiscussion.com\/news\/former-bitcoin-miner-iren-lands-2-8b-in-new-ai-cloud-contracts\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/hostingdiscussion.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Former Bitcoin miner Iren lands $2.8B in new AI cloud contracts\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/hostingdiscussion.com\/news\/#website\",\"url\":\"https:\/\/hostingdiscussion.com\/news\/\",\"name\":\"Web Hosting News\",\"description\":\"Cloud and web hosting industry daily news\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/hostingdiscussion.com\/news\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/hostingdiscussion.com\/news\/#\/schema\/person\/3a1732732b90f8c57c2a0ec68d3c49e3\",\"name\":\"Justine Juyad\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/hostingdiscussion.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/96df33d01870f85226adf8492251fbefe00bc349b10bb7679b094f3fa086999c?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/96df33d01870f85226adf8492251fbefe00bc349b10bb7679b094f3fa086999c?s=96&d=mm&r=g\",\"caption\":\"Justine Juyad\"},\"description\":\"HostingDiscussion.com senior reporter\",\"sameAs\":[\"https:\/\/hostingdiscussion.com\/news\/\"],\"url\":\"https:\/\/hostingdiscussion.com\/news\/author\/justine-juyad\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Former Bitcoin miner Iren lands $2.8B in new AI cloud contracts - Web Hosting News","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/hostingdiscussion.com\/news\/former-bitcoin-miner-iren-lands-2-8b-in-new-ai-cloud-contracts\/","og_locale":"en_US","og_type":"article","og_title":"Former Bitcoin miner Iren lands $2.8B in new AI cloud contracts - Web Hosting News","og_description":"A company that used to mine Bitcoin is now signing multi-billion-dollar cloud contracts with some of the biggest names in AI, and the pivot looks like it&#8217;s paying off. 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