Iren secures $9.7 billion Microsoft deal and $9.3 billion funding to deploy 150,000 Nvidia GPUs as it pivots from Bitcoin mining to AI infrastructure.

Iren signed a five-year, $9.70 billion deal with Microsoft for AI data center capacity

Company raised $9.30 billion to deploy over 150,000 Nvidia GPUs across its infrastructure

Strategic shift from Bitcoin mining to AI cloud infrastructure represents major business pivot

Expansion plans include 4.50 GW power portfolio to support GPU deployment

Move offers growth potential but carries execution risks and potential shareholder dilution