IREN acquires Mirantis for $625M

Mirantis develops cloud infrastructure and container management software for organizations to build, operate, and scale applications. On May 5, 2026, IREN announced it would acquire Mirantis for $625M (stock). IREN operates as a Bitcoin mining company expanding into vertically integrated AI cloud infrastructure. At the middle of Crunchbase's revenue estimate ($100M to $500M) the price works out to roughly 3× revenue.