IREN Reportedly Joins Anthropic's Cloud Providers; Shares Jump

IREN stock popped early Monday on reports that the bitcoin miner-turned-artificial intelligence infrastructure provider landed a multiyear cloud deal with Anthropic. Data center and bitcoin mining stocks were mixed Monday morning.

IREN (IREN) has signed a multiyear cloud deal with Anthropic, The Information reported citing unnamed sources. The deal is part of Anthropic's latest tranche of roughly $530 billion of data center leases, while the company is pushing to accelerate construction of the buildouts.

According to The Information's sources, Anthropic has an unannounced multiyear cloud deal with IREN, as the company "increasingly depends on current and former bitcoin miners" such as Hut 8 (HUT), TeraWulf (WULF) and Nscale.

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Claude maker Anthropic has expanded its deals to include its disclosed agreements with the likes of Amazon's (AMZN) Amazon Web Servcies, Google (GOOGL) and various other cloud services providers.

Meanwhile, IREN during its August earnings results announced it signed an AI cloud contract with a "leading frontier AI lab," which it did not name at the time. The company has signed other recent deals with Cohere, Prometheus, Perplexity, Figure AI, Fal AI and Higgsfield AI.

IREN stock swung nearly 4% higher early Monday. Shares plunged below their 50-day line last week, after 16% to their 50-day line.

IREN has tumbled 54% off its year high from early June and is down almost 7% this year through Friday.

Other cloud providers and mining plays were mixed Monday.

TeraWulf and Hut 8 eased slightly.

Core Scientific (CORZ) climbed almost 2%. MARA Holdings (MARA) was little changed.

You can follow Harrison Miller for more stock news and updates on X/Twitter @IBD_Harrison.

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