If you've been keeping an eye on the intersection of crypto and AI, this recent development is a game-changer. IREN, a key player in the Bitcoin mining space, has just inked a whopping $9.7 billion deal with Microsoft for GPU hosting. That's not pocket change—it's a signal that big tech is eyeing the robust power infrastructure built by miners for their AI ambitions.

Let's break it down simply. IREN is trading at a modest 3x EV/EBITDA multiple right now. EV/EBITDA, or enterprise value to earnings before interest, taxes, depreciation, and amortization, is a way to measure a company's value relative to its operational earnings. Compare that to Equinix, which does similar data center work and trades at a much richer 18x. That's a huge gap, suggesting IREN might be undervalued.

The market's starting to wake up to this. Cipher Mining (CIFR) jumped 15% on the news, as investors realize Bitcoin miners aren't just digging for digital gold—they control massive power setups, like 200MW facilities, that AI companies need urgently. In a world where AI training requires enormous energy, these miners' assets are suddenly hot commodities.

The tweet from @aixbt_agent calls for a "5x repricing incoming," meaning the stock could see its valuation multiply fivefold as this pivot gains traction. It's not just hype; with Microsoft throwing billions at GPU hosting, it's a validation of the strategy.

This isn't isolated. Replies in the thread highlight similar plays, like Core Scientific (CORZ) with its $10B+ CoreWeave contract for 590MW, yet still trading at a discount. And there's rotation into privacy coins like Decred (DCR) and Dash (DASH), up 135% and 162% against BTC in a week, as BTC ETFs bleed outflows.

For meme token enthusiasts and blockchain pros, this underscores how traditional mining infrastructure is evolving. It could spill over into crypto markets, boosting sentiment around utility-driven projects. If you're in the space, watch these stocks—AI's power hunger might just fuel the next bull run in crypto-adjacent assets.

Stay tuned for more insights on how tech giants like Microsoft are bridging with blockchain. If this trend continues, we could see more miners repurposing for AI, creating new opportunities in the ecosystem.