TechFlow news, November 10 — According to CoinDesk, bitcoin miner IREN has signed a five-year, $9.7 billion GPU cloud contract with Microsoft, marking its official entry into the AI infrastructure sector. Following this announcement, Canaccord raised IREN's price target from $42 to $70. The contract includes a 20% upfront payment from Microsoft and is expected to yield returns of up to 32%. IREN will provide Nvidia GB300 GPUs to Microsoft from its Horizon data center in Texas.
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