IREN Limited stock closed Monday at $34.80, down 1.11% for the session, before recovering 0.86% in after-hours trading to $35.10. The movement followed reports linking the company to a multiyear cloud agreement with Anthropic, renewing market interest in IREN's artificial intelligence infrastructure business.
The Information reported that Anthropic maintains an unannounced multiyear cloud agreement with IREN, citing people familiar with the arrangement. The report examined Anthropic's efforts to expand data center capacity to meet growing computing requirements. Neither Anthropic nor IREN has publicly confirmed the partnership or disclosed its financial terms.
The reported agreement would support IREN's transition from cryptocurrency mining toward artificial intelligence cloud services. IREN has disclosed several multiyear cloud agreements with companies including Cohere, Prometheus, Perplexity, Figure AI, Fal AI, and Higgsfield AI. During its fiscal fourth-quarter earnings call, CEO Daniel Roberts also mentioned a separate agreement with a leading frontier artificial intelligence laboratory without naming the organization, creating speculation about whether Anthropic represents that unnamed customer.
Data center operators with backgrounds in Bitcoin mining, including IREN, have attracted interest from technology companies seeking to expand computing capacity. Such providers offer high-performance infrastructure and access to large power resources without requiring companies to develop every facility independently.
IREN faces competition from CoreWeave, Nebius, and other operators expanding their artificial intelligence infrastructure businesses. The company has also faced criticism regarding the operational quality of its older data centers in British Columbia, with research firm SemiAnalysis highlighting reported customer complaints involving facilities in Prince George and Mackenzie.
IREN shares have declined approximately 7% year-to-date entering Monday's session. The stock reached the top of Stocktwits' trending list following the Anthropic reports, with retail traders discussing the possible partnership and trading interest lifting despite the lower close.
