Neo-cloud company IREN will acquire open-source cloud infrastructure specialist Mirantis, The Register reported on Thursday.

Mirantis is known as a developer of OpenStack distributions, hyperconverged appliances and Kubernetes tools. In 2025 it also launched an AI infrastructure deployment automation platform, k0rdent AI. After the acquisition, Mirantis will continue to operate as an independent business and support IREN cloud deployments.

IREN was founded in 2018 as Iris Energy. It secured low-cost power, built data centres and began a bitcoin mining business.

In 2023 it entered the generative AI infrastructure business and bought large quantities of Nvidia GPUs. It later changed its name to IREN. It started in Canada's British Columbia and expanded to Texas and Oklahoma. It now operates six data centres.

Alex Freedland (알렉스 프리들랜드), Mirantis CEO, said: "AI is reshaping enterprise and provider infrastructure requirements, and the market needs open AI infrastructure standards that can manage complexity across hardware, providers and enterprise environments."

Some in the related industry are also pointing out that there are few cases in which cloud providers have successfully acquired software stacks. Industry analyst Keith Townsend (Keith Townsend) said several companies, including Rackspace and Equinix, made similar attempts but all returned to their core facilities, power and cooling businesses. He said the long-term value of neo-clouds lies not in software or platforms but in power contracts and cooling infrastructure.