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IREN Limited (NASDAQ:IREN) shares traded sharply higher Wednesday. The rally follows the company’s Tuesday morning announcement of a definitive agreement to acquire Mirantis, Inc. for approximately $625 million.
The all-stock transaction marks a pivotal step in IREN’s transition. The company is moving from Bitcoin (CRYPTO: BTC) mining toward becoming a full-stack AI cloud infrastructure provider.
Strengthening Cloud Delivery Capabilities
Mirantis serves over 1,500 global enterprise customers. It is a founding partner of Nvidia‘s (NASDAQ:NVDA) AI Cloud Ready Initiative.
According to IREN, the acquisition …
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