IREN secures $3.65 billion A-rated financing for Microsoft AI infrastructure buildout

IREN Secures $3.65 Billion A-Rated Financing for Microsoft AI Buildout

Australian Bitcoin miner-turned-AI infrastructure company IREN (formerly Iris Energy) has secured a $3.65 billion A-rated debt financing package to fund its Microsoft AI data center contract. The deal covers approximately 96% of the GPU spending required to fulfill the Microsoft agreement.

The financing marks one of the largest single rounds in the AI infrastructure sector and signals Wall Street’s growing confidence in Bitcoin mining companies’ pivot to AI compute. IREN’s existing power infrastructure and data center expertise positions it as a key player in the rapidly expanding AI data center market.

This move represents a broader industry shift as traditional miners leverage their cheap power contracts and large-scale operations to serve booming AI industry demand.