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IREN Secures $9.7B Microsoft GPU Cloud Deal, Analyst Price Target Jumps 67%

IREN Secures $9.7B Microsoft GPU Cloud Deal, Analyst Price Target Jumps 67%

Author:

Global Cryptocurrency

Published:

2025-11-10 11:21:02

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BTCCSquare news:

Iren Limited's strategic pivot from Bitcoin mining to AI infrastructure gained monumental validation with a five-year, $9.7 billion GPU cloud contract with Microsoft. The deal includes a 20% upfront prepayment—providing immediate capital for Nvidia GB300 GPU procurement and Texas data center expansion at Horizon facilities.

Canaccord Genuity's upgraded $70 price target reflects a 32% projected IRR, signaling institutional confidence in Iren's infrastructure capabilities. Despite Friday's 6.8% dip to $62.38, the 355% YoY revenue surge to $240.3 million demonstrates scalable execution ahead of the 2026 Sweetwater 1 facility launch.

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