US Nasdaq-listed Bitcoin mining company IREN Limited (formerly Iris Energy) announced that it has completed a financing round of $3.65 billion to fulfill its AI cloud supply contract signed with Microsoft.

This financing was secured using the company's GPU assets and related cash flows as collateral, with the following detailed breakdown: • US Private Placement Notes: $2.1 billion • Term Loan: $1.55 billion

IREN plans to deploy the newly secured funds for its full-scale AI data center expansion. Through this, the company intends to significantly expand its AI cloud capacity to a total of 480MW by the end of 2026, thereby advancing its global AI infrastructure business.