IREN snaps up Mirantis in $625 million all-stock deal to round out its AI cloud platform
The Block
IREN is acquiring Mirantis for $625 million in an all-stock deal to bolster its AI cloud infrastructure and pivot away from pure-play bitcoin mining.Summary
IREN Limited has agreed to acquire cloud infrastructure firm Mirantis in an all-stock transaction valued at approximately $625 million. This strategic move is intended to add a software and services layer to IREN's AI cloud business, helping the company transition from a bitcoin mining-focused model to a full-stack neocloud provider. Mirantis, known for its Kubernetes-based automation tools, will continue to operate as a standalone subsidiary.
Industry analysts note that this acquisition is a push for IREN to compete with established players like Nebius and CoreWeave. The deal follows IREN's recent $3.6 billion capital raise, which was earmarked for a significant expansion of its GPU and data center capabilities.
(Source：The Block)