IREN Announces Acquisition of Mirantis to Strengthen AI Cloud Delivery Capabilities

IREN Ltd. announced it has signed a definitive agreement to acquire Mirantis, Inc., a provider of cloud infrastructure, Kubernetes-based orchestration and enterprise support services.The acquisition of Mirantis builds on IREN’s existing software, engineering and customer support capabilities, enhancing how compute is deployed, managed and operated for customers.

IREN is delivering AI Cloud services at scale across a range of workloads. As deployments grow, ensuring reliable provisioning, monitoring and support becomes increasingly important. Mirantis strengthens these capabilities with deep experience in cloud infrastructure and enterprise operations.

Mirantis has a track record of serving over 1,500 enterprise customers globally and is a founding Independent Software Vendor partner of the Nvidia AI Cloud Ready Initiative. Its k0rdent AI platform is designed to help manage AI infrastructure across bare metal, virtual machines and Kubernetes environments.

The acquisition is expected to enhance IREN’s platform across four key areas:

• Deployment capability: Supports faster deployment and operation of workloads on IREN’s existing bare metal GPU infrastructure
• Operational visibility: Improves monitoring, performance visibility and management of customer environments
• Customer support: Adds technical support, service delivery and enterprise operations expertise
• Market access: Expands the ability to serve a broader range of customer requirements, including existing AI native customers and emerging enterprise AI workloads

Mirantis is expected to operate as a standalone subsidiary, serving its existing customer base while supporting IREN’s AI Cloud deployments.

“IREN’s core advantage is execution – from securing power to building data centers, deploying GPUs and bringing compute online at scale,” said Daniel Roberts, co-founder and co-CEO, IREN. “Mirantis builds on our existing capabilities and strengthens how that compute is deployed, managed and operated for customers.”

“Mirantis has spent more than a decade helping enterprises deploy and manage cloud infrastructure. AI is creating a new set of customer requirements, and customers need platforms that are open, flexible and built for scale,” said Alex Freedland, founder and CEO, Mirantis. “IREN brings infrastructure at scale and proven delivery capability. Mirantis adds software and operational expertise that strengthens how customers deploy and use that infrastructure. Together, we will bring AI infrastructure online faster, while continuing to support existing customers and advance the k0rdent AI platform.”

The transaction consideration will be paid in IREN ordinary shares, representing an aggregate value of approximately $625 million at signing. Closing remains subject to customary conditions, including required regulatory approvals.