IREN Joins Russell 1000 After $9.7B Microsoft AI Cloud Deal

According to The Street, IREN Limited (NASDAQ: IREN), a Bitcoin miner pivoting to AI cloud provider, was added to the Russell 1000 Index on June 26 following FTSE Russell's annual reconstitution. The addition became effective after market close. IREN signed a five-year, roughly $9.7 billion GPU cloud contract with Microsoft (NASDAQ: MSFT) in November 2025, deploying Nvidia GB300 chips at its 750-megawatt Childress, Texas campus and unlocking an estimated $1.94 billion in annualized run-rate revenue.
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