IREN has signed a multi-year deal with Microsoft to use its cloud-based graphics processing services.

Under the terms of the agreement, IREN, a bitcoin mining and data center company, will provide Microsoft with access to Nvidia GB300 GPUs over a five-year term.

The total contract value of is about $9.7 billion, which includes a 20% prepayment, IREN said Monday.

At the same time, IREN made a separate agreement with Dell Technologies to purchase the GPUs and ancillary equipment for $5.8 billion.

The new GPUS are expected to be deployed in phases throughout next year at IREN's Texas campus in Childress which will coincide with the delivery of new data centers set to support about 200 megawatts of critical computing power.

Write to Adriano Marchese at [email protected]