IREN is trading at $52.00 (+5.09%) after announcing a $625 million all-stock deal to acquire cloud provider Mirantis, signaling a strategic pivot from Bitcoin mining to AI data centers.
- The acquisition aims to transform the company into an AI powerhouse ahead of its upcoming Q3 earnings release.
- The stock is significantly outperforming broader crypto trends, with BTC up 1.92% and ETH up 1.28%.
- Shares are seeing a strong recovery from yesterday's close of $49.48 as the market reacts to the definitive agreement.