Iren to acquire cloud infrastructure firm Mirantis for $625M

Iren (IREN), formerly known as Iris Energy, announced it is acquiring cloud infrastructure service provider Mirantis. The deal is valued at approximately $625 million and will be paid for with Iren common stock. Through this acquisition, Iren plans to strengthen its capabilities in the AI cloud sector. Following the completion of the deal, Mirantis will operate as an independent subsidiary, maintaining its existing services while supporting the expansion of Iren's AI cloud business.