According to CoinMeta, Bitcoin mining company Iren has delivered its first Horizon AI cloud project to Microsoft, which is one of the four deployment phases of a five-year, $9.7 billion contract between the two parties. The first project is located in the Childress campus in Texas, with a capacity of 50MW. With four more phases using NVIDIA GB300 GPU, the total capacity will reach 200MW, and the remaining projects are expected to be completed within this year. The goal is to expand the cloud capacity to 1.2GW by 2027.