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IREN’s $9.7B Microsoft AI deal hits first major milestone
Aug 17, 2026
< 1 min read
by Ashish Kumar
for CryptoPolitan
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IREN, a former Bitcoin mining company, completed the first of four Horizon AI cloud deployments for Microsoft at its Childress, Texas facility, hitting the first milestone of a five-year, $9.7 billion contract. The delivery substantiates IREN's shift into AI infrastructure, increases crypto-adjacent adoption and revenue visibility from the Microsoft partnership, and is likely positive for market and token outlook.
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IREN completed the delivery of the first of four planned “Horizon” cloud deployments of artificial intelligence to Microsoft Corporation. With that, the first milestone of a five-year, $9.7 billion contract was completed, which underpins the transition of the former Bitcoin mining company into artificial intelligence infrastructure. Horizon 1 is located at IREN’s Childress, Texas facility....
