Takes company's GPU collection to 8,500
Bitcoin and AI data center firm IREN has announced the purchase of 4,200 Nvidia GPUs as part of its AI cloud expansion.
The company procured an additional 4,200 Blackwell B200 GPUs, taking its total number of GPUs at its ‘Prince George’ site in British Columbia, Canada, to 8,500.
This fleet of GPUs comprises 800 H100s, 1,100 H200s, 5,400 B200s, and 1,200 B300s.
IREN expects its total mining capacity to be ~50 EH/s, while the Prince George facility hosts a 50MW power capacity - the company says that's enough for ~20,000 Blackwell GPUs.
The firm said financing conversations are underway for the new GPUs, with the initial commitment made from existing cash.
The company also announced the addition of $102 million in financing for the purchase of its previous fleet of Blackwell B200 and B300 GPUs.
The financing is structured as a 36-month lease for 100 percent of the purchase price of the GPUs, with lease payments calculated utilizing a "high single-digit interest rate," according to the company.
Daniel Roberts, co-founder & co-CEO of IREN (aka Iris Energy), emphasized the need to capture the demand of the AI cloud market and scale the company’s own AI cloud business.
“Our expanded Blackwell capacity positions IREN to capture strong demand and drive the next phase of our AI Cloud revenue growth. Utilizing competitively priced, non-dilutive capital further strengthens the value proposition in scaling our AI Cloud business,” Roberts said.
With no mention of Bitcoin in the company’s announcement, IREN’s previously announced pivot away from Bitcoin mining to focus on its AI cloud business would appear to be coming to fruition. The company is still mining Bitcoin, but is winding down its mining operations and diverting cash flow to its AI business.
IREN currently boasts six data centers across North America, with a total capacity of 2,910MW.
Since April of this year, IREN’s stock price has surged to the tune of 304 percent. The dramatic increase follows the company’s stock price declining by 62 percent in 2024. The surge is largely attributed to IREN’s pivot to AI, and its procurement of more high-end GPUs.
Source: DCD
