The spectacular transition of Bitcoin<\/a> miners toward artificial intelligence<\/strong> is redefining the rules of the game in the crypto<\/a> industry. After the halving of April 2024 that cut mining rewards in half, the sector’s profitability collapsed<\/strong>. Operators have had to fundamentally rethink their business model<\/strong>.<\/p>\n\n\n\n IREN, formerly Iris Energy<\/strong>, experienced a brutal decline<\/strong> before orchestrating an impressive comeback. Since its rebranding in November 2024 and strategic pivot toward AI<\/strong>, the stock has climbed by more than 580%<\/strong>. Riot Platforms, TeraWulf and Cipher Mining<\/strong> are following the same trajectory with stock gains ranging between 100% and 360%<\/strong>. These performances demonstrate renewed market confidence in this new positioning.<\/p>\n\n\n\n The main advantage of these companies lies in their existing infrastructure<\/strong>. Years of investment in massive energy capacities and sophisticated cooling systems allow them to quickly shift from blockchain calculations to HPC. Unlike traditional data centers that require 3 to 5 years to build, miners offer immediately available capacity<\/strong>.<\/p>\n\n\n\n This flexibility becomes crucial<\/strong> as demand for AI computing power explodes. Investors now track metrics in megawatts and GPU allocation rather than traditional Bitcoin hashrate<\/strong>.<\/p>\n\n\n\n The deal between IREN<\/strong> and Microsoft<\/strong> marks a historic turning point for the industry. The $9.7 billion contract for data center capacity in Texas<\/strong> positions the former miner as a major player in cloud computing. IREN has also secured an additional $5.8 billion from Dell<\/strong> for GPU deliveries. These partnerships place the company in a new category of technology players, far from its initial crypto identity.<\/p>\n\n\n\nMicrosoft and Dell Sign Massive Agreements with Ex-Miners<\/h2>\n\n\n\n