IREN, a Bitcoin mining company, experienced a 12% surge in pre-market trading following the announcement of a significant AI cloud contract with NVIDIA. The deal involves the deployment of 23,000 NVIDIA Blackwell GPUs, expected to generate over $500 million in annualized revenue. By the end of 2025, 11,000 GPUs are anticipated to be operational, contributing $225 million annually. The contracts, spanning two years, are part of IREN's strategy to expand its data center capacity in British Columbia and Texas to support over 100,000 GPUs.