The Information reported the agreement on Oct 11, citing people familiar with the relationship. No dollar value or length has been disclosed. In August, IREN said it had signed with a top frontier lab without naming it. Market reports say IREN shares rose almost 9% after the news. The same report explains why Anthropic is pressing partners to build faster. Analysts estimate that switching on a 245 MW site one month early would add more than $1.3B in revenue. Anthropic increasingly relies on current and former bitcoin miners, including Hut 8, TeraWulf, IREN and Nscale, which hold scarce grid connections. These sit alongside its existing capacity from AWS, Google and more than a dozen other providers. For builders, frontier capacity is now limited by power and permitting as much as by chips. Whoever controls energized megawatts can shape model availability and rate limits. Startups that depend on Claude should watch these buildout timelines, since they affect capacity and pricing.