Microsoft · Nvidia · Bitcoin · The Block
According to a company release, Horizon 1 is a 50-megawatt direct-to-chip liquid-cooled deployment at IREN's Childress
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◎ Multiple-sources
The four phases will total 200 megawatts of IT capacity and Nvidia GB300 GPUs.
Key facts
- IREN shares were up 2.6% to $45.22 on Monday afternoon after reaching $46.50 earlier in the day
- IREN is targeting 480 MW of AI cloud capacity in 2026 and 1.2 gigawatts by 2027 as it continues to pivot away from bitcoin mining
- At the time, IREN said the financing covered 96% of the $5.81 billion in GPU spending tied to the contract
- Bitcoin miner-turned-AI infrastructure provider IREN has delivered the first of four planned 'Horizon' AI cloud deployments to Microsoft under a five-year, $9.7 billion contract
Summary
Bitcoin miner-turned-AI infrastructure provider IREN has delivered the first of four planned 'Horizon' AI cloud deployments to Microsoft under a five-year, $9.7 billion contract. According to a company release, Horizon 1 is a 50-megawatt direct-to-chip liquid-cooled deployment at IREN's Childress, Texas, campus. IREN (IREN) also said Horizon 1 was designated Nvidia's Exemplar Cloud status, recognizing cloud providers that meet Nvidia's performance and reliability standards for running AI workloads. "Delivering Horizon 1 demonstrates the strength of our vertically integrated model and our ability to execute complex AI infrastructure projects at speed and scale," IREN co-founder and co-CEO Daniel Roberts said in a statement.