EL7.AI
Mergers & AcquisitionsMedium•1 November 2026•
2 min read

IREN Records Consideration of About $544 Million for Mirantis Acquisition Completed in August

Key Facts

1Total acquisition consideration was about $544 million at completion in August 2026.
2IREN issued 12.6 million shares as part of the consideration, in addition to about $40 million in cash and restricted stock units.
3Mirantis serves more than 1,500 enterprise customers worldwide and will continue developing and supporting the k0rdent AI platform.
4The acquisition did not affect IREN’s fiscal 2026 results because it was completed after June 30, 2026.

IREN announced on August 4, 2026, that it had completed its acquisition of Mirantis, after its annual report showed total consideration of about $544 million at closing. The consideration included the issuance of 12.6 million common shares, along with about $40 million in cash and restricted stock units, according to the filing with the U.S. Securities and Exchange Commission. The report dates the deal’s completion to August 3, while the company announced its completion the following day. The details put the consideration recorded at closing at the center of the transaction, highlighting the equity component alongside cash and stock units. IREN said the acquisition strengthens the software layer within its integrated AI Cloud platform, which includes data centers, computing and software.

According to an IREN statement, the deal expands the company’s capabilities in orchestrating and monitoring AI workloads and supporting customers. The platform thus combines IREN’s data centers and computing with Mirantis’ software layer, broadening the range of services the company offers its customers. Daniel Roberts, IREN’s co-founder and co-CEO, said, "Mirantis adds the software layer on top of the infrastructure, turning it into a platform." He added that this enables the company to serve customers using bare metal computing, as well as companies seeking a fully managed AI cloud. The deal is presented as an addition to IREN’s existing platform, rather than a separate move into the software sector.

Mirantis has a base of more than 1,500 enterprise customers worldwide, according to IREN’s statement issued with the deal announcement. The company also said its open-source k0rdent AI platform will continue to be developed and supported for Mirantis customers. IREN’s annual report said it is integrating the platform into its software layer. The acquisition was completed after IREN’s fiscal year ended on June 30, 2026, and therefore did not affect that year’s operating results, according to the report. As it expands its AI computing assets, an earlier EL7 story reported that IREN and Wingspire closed $363 million in financing on October 28; the first-quarter results scheduled for November 5 remain a stated milestone for assessing execution and integration.

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