According to BlockBeats, on May 5th, Bitcoin mining company IREN Limited agreed to acquire cloud infrastructure software company Mirantis in an all-stock transaction worth approximately $625 million to enhance its AI cloud business portfolio.
This acquisition will bring key software and orchestration capabilities to IREN, helping it better monetize its expanding GPU and data center resources. Mirantis focuses on Kubernetes-based cloud infrastructure tools that enable the automated deployment, scaling, and management of containerized applications.
Analysts point out that the deal values Mirantis at approximately four to five times its revenue and is intended to help IREN catch up with AI cloud competitors such as CoreWeave and build a complete "full-stack new cloud" capability.
This acquisition marks a significant step in IREN's transformation from a Bitcoin mining company to an AI infrastructure platform. Previously, the company had raised approximately $3.6 billion through equity and convertible bonds to expand its GPU and data center capacity, with total investment potentially exceeding $9 billion. Following the transaction, Mirantis is expected to operate as an independent subsidiary.
