IREN's $625 million acquisition of Mirantis accelerates its transformation into an AI cloud platform.

CoinFeed reported on May 5th that, according to The Block, IREN Limited announced the acquisition of cloud infrastructure software company Mirantis in an all-stock transaction valued at approximately $625 million. This acquisition aims to strengthen IREN's AI cloud computing capabilities and further reduce its reliance on Bitcoin mining. Mirantis primarily provides Kubernetes-based cloud infrastructure and containerized application management tools, helping enterprises automate application deployment, scaling, and operations. Analysts estimate that the transaction values ​​Mirantis at approximately four to five times its revenue, and is seen as a significant step for IREN in catching up with "full-stack AI cloud" competitors such as Nebius Group and CoreWeave.