# IREN Validates AI Virtualization Stack on Nvidia GB200 Systems

- URL: https://stocks.freetheai.org/news/iren-validates-ai-virtualization-stack-on-nvidia-gb200-systems-700458
- Published: 2026-10-11T09:52:23Z
- Category: company_news; sentiment: mixed; impact: medium
- Symbols: [NASDAQ:IREN](https://stocks.freetheai.org/symbols/NASDAQ-IREN), [NASDAQ:NVDA](https://stocks.freetheai.org/symbols/NASDAQ-NVDA)
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IREN Limited (IREN) announced that its software subsidiary, Mirantis, completed validation of its k0rdent artificial intelligence virtualization software on Arm-based NVIDIA Corporation (NVDA) GB200 systems. The validation for the Nvidia-Certified Hypervisor demonstrates that multi-tenant virtualized environments can deliver performance close to bare-metal systems while maintaining hardware isolation between customers.

The technical milestone arrives as the company faces external scrutiny over its infrastructure operations and legacy data center performance in British Columbia. IREN, formerly known as Iris Energy, is actively transitioning its core business model away from cryptocurrency. In the quarter ended June, its artificial intelligence cloud revenue reached $70.5 million, surpassing its Bitcoin mining revenue of $66.7 million for the first time. For the full fiscal year ended June 30, the company generated $578.2 million in revenue from mining 6,075 Bitcoin.

Investors are monitoring IREN's complete phase-out of Bitcoin mining operations, which the company expects to finalize by December. Market participants will also track performance at its newer Texas campuses in Childress and Sweetwater as it expands its artificial intelligence cloud capabilities. Shares of IREN closed down 1.46% at $35.19, reflecting a decline of nearly 7% year-to-date.

## Key points

- Mirantis validated the k0rdent AI virtualization stack on Arm-based Nvidia GB200 systems for Nvidia-Certified Hypervisor status.
- AI cloud revenue reached $70.5 million in the June quarter, exceeding Bitcoin mining revenue for the first time.
- IREN plans to complete its operational transition from Bitcoin mining to AI cloud infrastructure by December.
- Shares of IREN closed down 1.46% at $35.19 and remain down nearly 7% year-to-date.

## Questions and answers

### What AI validation did IREN complete with Nvidia?

IREN subsidiary Mirantis validated its k0rdent AI virtualization software on Arm-based Nvidia GB200 systems, demonstrating near bare-metal performance for multi-tenant setups.

### When will IREN finish shutting down its Bitcoin mining business?

IREN expects to complete its transition from Bitcoin mining to AI cloud computing by December.

### How much revenue did IREN generate from AI cloud services?

IREN generated $70.5 million in AI cloud revenue during the June quarter, outstripping its Bitcoin mining revenue of $66.7 million for the first time.