Cryptocurrency mining companies are re-tooling their high-performance hardware to meet the burgeoning demand for advanced computing as they move beyond traditional blockchain activities. This shift is exemplified by a major multi-year agreement between Microsoft and IREN, showcasing the growing integration of crypto mining infrastructure with large-scale AI computing requirements. IREN secured a five-year, $9.7 billion deal with Microsoft to access Nvidia GB300-powered AI systems hosted at their Texas data centers. This allows Microsoft to expand its AI capabilities without the costs and complexities of building new data centers or procuring additional power supply, while also mitigating financial risk associated with quickly outdated AI chips.