IREN acquires Mirantis for $625 million in an all-stock deal, accelerating its transformation into an AI cloud platform
On May 5th, Bitcoin mining firm IREN Limited struck an all-stock deal worth approximately $625 million to acquire cloud infrastructure software company Mirantis, aimed at boosting its AI cloud operations.
The acquisition will deliver critical software and orchestration capabilities to IREN, enabling it to better monetize its expanding GPU and data center resources. Mirantis specializes in Kubernetes-powered cloud infrastructure tools that automate the deployment, scaling, and management of containerized apps.
Analysts note the deal values Mirantis at roughly 4 to 5 times its annual revenue, as the move aims to help IREN narrow the gap with AI cloud rivals like CoreWeave and build out a full-stack cloud offering.
This marks a major milestone in IREN’s shift from a Bitcoin mining company to an AI infrastructure platform. The firm previously raised roughly $3.6 billion via equity and convertible bond financing to expand GPU and data center capacity, with total construction spendi
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Trump: Iran Wants a Deal, U.S. Has 'Total Control'
May 5 — President Trump said about the Iran situation that Iran is "trying very hard to survive" and wants to reach an agreement with the U.S., but also criticized Iran for denying what was discussed during their call, calling the country out for "playing games."
Trump emphasized the current situation is "completely in U.S. control" and noted Iran "respects the U.S. more than ever before." He also pointed out Iran has not targeted U.S.-protected vessels.
When asked about the possibility of arming Iranian civilians, Trump declined to directly answer, only saying, "I'd rather not say."
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Gold Price Rises in US Session, But Analysts Say Uncertainty in the Middle East May Continue to Support the US Dollar and Keep Gold Price Under Pressure
May 5th
Markets are currently focused on the fragile US-Iran ceasefire and the impact of surging energy prices on inflation and interest rates—driving gold prices higher during U.S. trading hours.
Analyst Fawad Razaqzada noted: “Unless we see meaningful progress toward Gulf region stability, elevated oil prices may continue to lift short-term U.S. yields, thereby bolstering the U.S. dollar. This combination bodes poorly for gold’s short-term outlook.” (FXStreet)
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Anthropic Launches a Suite of Financial Services AI Agents
May 5th, Anthropic PBC launched a suite of new AI agents designed to handle a wider range of financial services tasks. These agents can draft client meeting presentations, review financial statements, and conduct compliance reviews on reported cases.
These 10 new tools are targeted at professionals in banking, insurance, asset management, and fintech. Anthropic CEO Dario Amodei will deliver an AI-focused speech at the company’s New York event on Tuesday, alongside JPMorgan Chase CEO Jamie Dimon—with banking industry leaders also in attendance. (FX Street)
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U.S. Think Tank Introduces Crypto-Native Talent to Strengthen Congressional Capacity on Digital Asset Legislation
On May 5th, the American Innovation Project (AIP)—a U.S. tech policy advocacy group—announced it has added two new policy researchers. Among the hires is Jacob Smagula, who joins Rep. Ritchie Torres’ team to focus on digital asset-related legislation.
Smagula previously worked in government affairs at Bitcoin mining firm MARA and currently conducts policy research at the DeFi Education Fund. He brings experience in the crypto industry and regulatory communications to the role.
Founded in 2025, AIP is backed by organizations including Digital Currency Group. Its mission is to provide congressional members with expertise and policy support on emerging technologies like artificial intelligence (AI) and digital assets. This appointment is seen as a further signal of professionalization in U.S. crypto legislation and regulation.
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