$IREN(IREN.US) IREN shares jumped over 10% Thursday after Microsoft formally approved Horizon 1, clearing the first of four AI data centers IREN is building under their five-year, $9.7 billion cloud services deal. The milestone may be the clearest evidence yet that the company’s multibillion-dollar pivot from Bitcoin mining toward AI infrastructure is delivering. Horizon 1 is a 50-megawatt deployment of Nvidia GB300 systems at IREN’s Childress, Texas, campus. It is the first of four such facilities scheduled for 2026, which will together supply 200 megawatts of capacity. The sign-off means more than finished construction. Microsoft has a contractual five-day window to test each GPU deployment against agreed criteria. Once accepted, the service term begins and IREN can start invoicing Microsoft monthly. Nvidia separately granted Horizon 1 Exemplar Cloud status after testing the systems. The contract is expected to generate roughly $1.94 billion in annualized revenue once all four Horizons are running. @Captain's Treasure