IREN Soars 9% as Bitcoin Miner Lands Major AI Cloud Deals - Here’s Why It Matters

Bitcoin mining meets artificial intelligence in a power play that's turning heads across both industries.

The AI Gold Rush Comes for Crypto Miners

IREN just secured multi-year contracts that sent its stock jumping 9% - a clear signal that Bitcoin miners are finding new revenue streams beyond just validating transactions. These aren't your typical cloud deals either; we're talking serious AI workload commitments that could reshape how mining operations think about their massive computing power.

From Crypto to Compute

While Wall Street analysts scramble to update their spreadsheets, the move demonstrates how crypto infrastructure players are pivoting to capture the AI boom. It's almost ironic - the same hardware that mines digital gold can now train large language models. Talk about hedging your bets in volatile markets.

The 9% surge tells you everything about what institutional investors think of diversified revenue streams in the crypto space. Because nothing says 'stable growth' like combining two of the most volatile sectors in tech history.

Leaders: ETH (+0.2%) and BTC (-0.7%).

Laggards: UNI (-3.3%) and AAVE (-3.1%).

The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.