Iren Expands AI Cloud Fleet to 150,000 GPUs with Major Nvidia B300 Purchase

Iren Scales AI Infrastructure with 50,000 New Nvidia B300 GPUs March 6, 2026 The race to build out large-scale artificial intelligence infrastructure has intensified, with specialized cloud providers making massive hardware investments to secure capacity and market position. Iren, an AI cloud company formerly known as Iris Energy, has significantly bolstered its capabilities through a major procurement deal. The company has entered into purchase agreements for more than 50,000 of Nvidia's latest-generation B300 GPUs. This acquisition will expand Iren's total fleet to 150,000 GPUs on its cloud platform, a dramatic increase from the 23,000 units it reported operating as of September 2025. The new hardware will be deployed in phases during the first half of 2026 across the company's data centers in Mackenzie, British Columbia, and Childress, Texas. Iren's aggressive expansion is backed by substantial financial commitments. Over the past eight months, the company secured $9.3 billion in funding through a mix of customer prepayments, convertible notes, and GPU leasing and financing arrangements. These funds are earmarked to finance an additional $3.5 billion in capital expenditures related to the B300 acquisition. A significant portion of this financial backing stems from a landmark $9.7 billion cloud capacity deal secured with Microsoft in November 2025, which included a 20 percent prepayment and grants Microsoft access to Iren's GPU fleet. The scale of this deployment is expected to have a direct impact on revenue. Iren projects that the expanded fleet will enable an annualized run-rate revenue exceeding $3.7 billion by the end of 2026. The company also notes it has additional capacity available at its Childress, Texas, and Canal Flats, British Columbia, facilities for future GPU deployments, supporting its claim of operating 810 megawatts of data center capacity, with 2.1 gigawatts under construction and another 1 gigawatt in development. Daniel Roberts, co-CEO and co-founder of Iren, emphasized the strategic importance of the move. "Scaling to 150,000 GPUs positions Iren among the largest AI cloud infrastructure providers globally and underscores the strength of our vertically integrated platform," Roberts said. "In a supply-constrained environment, early hardware procurement reduces time-to-compute and increases execution certainty as we scale." This procurement underscores Iren's strategic pivot from its origins in cryptocurrency mining toward becoming a dedicated AI cloud business. While the company continues to wind down its Bitcoin mining operations, it is now diverting cash flow to accelerate its AI infrastructure build-out, marking a definitive shift in its core business model. The massive investment in next-generation GPUs signals both the intense demand for AI compute and the capital-intensive nature of competing in the high-stakes cloud infrastructure sector. Source: datacenterdynamics