IREN Completes First Phase of $9.7B Microsoft AI Deal, Expands Beyond Bitcoin Mining

IREN, a company that has expanded from Bitcoin mining to AI infrastructure, has completed the first phase of its $9.7 billion deal with Microsoft.

The initial deployment, called Horizon 1, is a 50-megawatt data center located in Childress, Texas, and it began supplying capacity to Microsoft in August 2026.

This marks the first delivery under their five-year contract signed in November 2025. The full project will provide 200 megawatts of AI cloud infrastructure using Nvidia GB300 GPUs, with the remaining capacity to be delivered sequentially within this year.