IREN Expands AI Cloud with 2.4k NVIDIA Blackwell GPUs
IREN (NASDAQ: IREN) has announced a significant expansion of its AI Cloud capabilities with the purchase of 2,400 NVIDIA Blackwell GPUs for approximately $130 million. The order includes 1,300 B200 and 1,100 B300 GPUs, which will be installed at IREN's Prince George, BC campus.
This expansion increases IREN's total GPU fleet to 4,300 NVIDIA GPUs, combining the new Blackwell units with their existing 1,900 Hopper GPUs. The Prince George facility, with its 50MW of dedicated power, has the capacity to host over 20,000 Blackwell GPUs, providing significant room for future growth. The purchase is fully funded from existing cash, though IREN is exploring additional financing options to support AI Cloud Services growth.
IREN (NASDAQ: IREN) ha annunciato un'importante espansione delle sue capacit脿 di AI Cloud con l'acquisto di 2.400 GPU NVIDIA Blackwell per un valore di circa 130 milioni di dollari. L'ordine comprende 1.300 GPU B200 e 1.100 GPU B300, che saranno installate nel campus di IREN a Prince George, BC.
Questa espansione porta la flotta totale di GPU di IREN a 4.300 GPU NVIDIA, combinando le nuove unit脿 Blackwell con le 1.900 GPU Hopper esistenti. La struttura di Prince George, con i suoi 50MW di potenza dedicata, ha la capacit脿 di ospitare oltre 20.000 GPU Blackwell, offrendo ampi margini per una crescita futura. L'acquisto 猫 completamente finanziato con liquidit脿 disponibile, anche se IREN sta valutando ulteriori opzioni di finanziamento per sostenere la crescita dei servizi AI Cloud.
IREN (NASDAQ: IREN) ha anunciado una expansi贸n significativa de sus capacidades de AI Cloud con la compra de 2.400 GPUs NVIDIA Blackwell por aproximadamente 130 millones de d贸lares. El pedido incluye 1.300 GPUs B200 y 1.100 GPUs B300, que se instalar谩n en el campus de IREN en Prince George, BC.
Esta expansi贸n eleva la flota total de GPUs de IREN a 4.300 GPUs NVIDIA, combinando las nuevas unidades Blackwell con las 1.900 GPUs Hopper existentes. La instalaci贸n de Prince George, con sus 50MW de potencia dedicada, tiene capacidad para alojar m谩s de 20.000 GPUs Blackwell, ofreciendo un espacio significativo para el crecimiento futuro. La compra est谩 financiada completamente con efectivo disponible, aunque IREN est谩 explorando opciones adicionales de financiamiento para apoyar el crecimiento de los servicios AI Cloud.
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IREN (NASDAQ : IREN) a annonc茅 une expansion significative de ses capacit茅s AI Cloud avec l'achat de 2 400 GPU NVIDIA Blackwell pour environ 130 millions de dollars. La commande comprend 1 300 GPU B200 et 1 100 GPU B300, qui seront install茅s sur le campus d'IREN 脿 Prince George, en Colombie-Britannique.
Cette expansion porte la flotte totale de GPU d'IREN 脿 4 300 GPU NVIDIA, combinant les nouvelles unit茅s Blackwell avec les 1 900 GPU Hopper existants. L'installation de Prince George, avec ses 50 MW d'alimentation d茅di茅e, a la capacit茅 d'accueillir plus de 20 000 GPU Blackwell, offrant un espace important pour une croissance future. L'achat est enti猫rement financ茅 par des liquidit茅s existantes, bien qu'IREN explore des options de financement suppl茅mentaires pour soutenir la croissance des services AI Cloud.
IREN (NASDAQ: IREN) hat eine bedeutende Erweiterung seiner AI-Cloud-F盲higkeiten angek眉ndigt und 2.400 NVIDIA Blackwell GPUs f眉r etwa 130 Millionen US-Dollar erworben. Die Bestellung umfasst 1.300 B200 und 1.100 B300 GPUs, die auf dem Campus von IREN in Prince George, BC, installiert werden.
Diese Erweiterung erh枚ht die gesamte GPU-Flotte von IREN auf 4.300 NVIDIA GPUs, indem die neuen Blackwell-Einheiten mit den bestehenden 1.900 Hopper GPUs kombiniert werden. Die Einrichtung in Prince George verf眉gt 眉ber 50 MW dedizierte Leistung und bietet Kapazit盲t f眉r 眉ber 20.000 Blackwell GPUs, was erheblichen Spielraum f眉r zuk眉nftiges Wachstum bietet. Der Kauf wird vollst盲ndig aus vorhandenen liquiden Mitteln finanziert, w盲hrend IREN zus盲tzliche Finanzierungsoptionen pr眉ft, um das Wachstum der AI-Cloud-Dienste zu unterst眉tzen.
- Investment of $130M in 2.4k next-generation NVIDIA Blackwell GPUs positions IREN as an early provider in a supply-constrained market
- Prince George facility has 50MW capacity to host over 20,000 Blackwell GPUs, enabling significant future expansion
- Purchase fully funded from existing cash reserves
- Company has 2,910 MW of grid-connected power capacity for comprehensive AI infrastructure services
- Company exploring additional financing options which could impact capital structure
- Displacement of existing mining hardware required, adding operational complexity
Insights
IREN's $130M Blackwell GPU purchase boosts AI capabilities, secures early access to next-gen computing in a supply-constrained market.
IREN's
The deployment at their Prince George facility demonstrates impressive foresight in infrastructure planning. With 50MW of dedicated power, this location can ultimately support more than 20,000 Blackwell GPUs, providing a substantial runway for phased expansion as demand for AI computing resources continues to accelerate. The technical specifications suggest IREN is optimizing for power efficiency with projected PUE of 1.1, significantly better than industry averages.
What truly distinguishes this expansion is how it leverages IREN's vertically integrated platform. With 2,910 MW of grid-connected power across their portfolio, they can offer the full spectrum of AI infrastructure services - from powered shells to fully managed cloud solutions. This flexibility is crucial as different AI customers have vastly different needs regarding control, customization, and management overhead.
The timing couldn't be more strategic. As large language model training and inference workloads grow exponentially, access to advanced GPU clusters has become a critical bottleneck for AI development. By securing these units now, IREN not only addresses immediate customer demand but strengthens their position in broader infrastructure discussions that will likely shape their next growth phase. The full cash funding of this purchase demonstrates financial strength while maintaining flexibility through potential financing alternatives for future expansions.
New B200 & B300 fleet lifts total to 4.3k GPUs, unlocking next-gen training and inference at scale
SYDNEY, July 03, 2025 (GLOBE NEWSWIRE) -- IREN Limited (NASDAQ: IREN) (鈥淚REN鈥�) today announced the purchase of 2.4k next-generation NVIDIA Blackwell B200 and B300 GPUs for ~
The order (1.3k B200 and 1.1k B300 GPUs) will be installed over the coming months at IREN鈥檚 Prince George, BC campus, with any displaced mining hardware expected to be redistributed to other sites. Combined with the existing 1.9k Hopper GPUs, this expansion increases IREN鈥檚 fleet to approximately 4.3k NVIDIA GPUs. With 50MW of dedicated power, Prince George can ultimately host more than 20,000 Blackwell GPUs, providing a clear runway for phased growth.2
The Blackwell architecture delivers significant advancements in performance and efficiency, positioning IREN among the first cloud providers to offer next-generation compute in a supply-constrained market. Observed demand from AI-native enterprises, cloud operators and hyperscalers continues to increase as training and inference workloads grow.
IREN expects the deployment to deliver attractive risk-adjusted returns on a stand-alone basis while simultaneously supporting active discussions across its AI Data Center business. IREN鈥檚 vertically integrated platform, underpinned by 2,910 MW of grid-connected power, is uniquely positioned to deliver powered shells, build-to-suit, turnkey colocation, and fully managed cloud services, providing customers with flexible, end-to-end solutions across the AI infrastructure stack.
鈥�This investment is compelling on two fronts: strong near-term economics and meaningful strategic positioning,鈥� said Daniel Roberts, Co-CEO of IREN.
"Expanding our Blackwell footprint not only聽enables us to meet current customer demand, it also supports the broader infrastructure conversations driving our next phase of growth.鈥�
Assumptions and Notes
- Includes servers, storage, labor and ancillary equipment such as InfiniBand, racks and cabling.
- >20k air-cooled Blackwell GPU capacity reflects 50MW gross power capacity at Prince George, and assumes PUE of 1.1 and power draw of 1.93kW per GPU (including ancillary power draw), based on NVIDIA B200 reference architecture.
Forward-Looking Statements
This press release includes 鈥渇orward-looking statements鈥� within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or IREN鈥檚 future financial or operating performance. For example, forward-looking statements include but are not limited to the Company鈥檚 business strategy, expected operational and financial results, and expected increase in power capacity and hashrate. In some cases, you can identify forward-looking statements by terminology such as 鈥渁nticipate,鈥� 鈥渂elieve,鈥� 鈥渕ay,鈥� 鈥渃an,鈥� 鈥渟hould,鈥� 鈥渃ould,鈥� 鈥渕ight,鈥� 鈥減lan,鈥� 鈥減ossible,鈥� 鈥減roject,鈥� 鈥渟trive,鈥� 鈥渂udget,鈥� 鈥渇orecast,鈥� 鈥渆xpect,鈥� 鈥渋ntend,鈥� 鈥渢arget鈥�, 鈥渨ill,鈥� 鈥渆stimate,鈥� 鈥減redict,鈥� 鈥減otential,鈥� 鈥渃ontinue,鈥� 鈥渟cheduled鈥� or the negatives of these terms or variations of them or similar terminology, but the absence of these words does not mean that statement is not forward-looking. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. In addition, any statements or information that refer to expectations, beliefs, plans, projections, objectives, performance or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking.
These forward-looking statements are based on management鈥檚 current expectations and beliefs. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause IREN鈥檚 actual results, performance or achievements to be materially different from any future results performance or achievements expressed or implied by the forward looking statements, including IREN鈥檚 ability to successfully execute on its growth strategies and operating plans, including its ability to continue to develop its existing data center sites, design and deploy direct-to-chip liquid cooling systems, and diversify and expand into the market for high performance computing solutions (including the market for cloud services and potential colocation services and other important factors discussed under the caption 鈥淩isk Factors鈥� in IREN鈥檚 annual report on Form 20-F filed with the SEC on August 28, 2024 as such factors may be updated from time to time in its other filings with the SEC, accessible on the SEC鈥檚 website at www.sec.gov and the Investor Relations section of IREN鈥檚 website at https://investors.iren.com. These and other important factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any forward-looking statement that IREN makes in this press release speaks only as of the date of such statement. Except as required by law, IREN disclaims any obligation to update or revise, or to publicly announce any update or revision to, any of the forward-looking statements, whether as a result of new information, future events or otherwise.
About IREN
IREN is a vertically integrated data center business powering the future of Bitcoin, AI and beyond utilizing
- Power & Land Portfolio: 2,910MW of grid-connected power secured across >2,000 acres in the U.S. and Canada, with an additional multi-gigawatt development pipeline.
- Next-Generation Data Centers: 810MW of operating data centers underpinning three verticals: Bitcoin Mining, AI Cloud Services and AI Data Centers.
- Bitcoin Mining: one of the world鈥檚 largest and lowest-cost Bitcoin producers with 50 EH/s of installed self-mining capacity.
- AI Cloud Services: delivering high performance cloud compute to AI customers with next-generation NVIDIA GPUs.
- AI Data Centers: end-to-end design, construction and operation of data center infrastructure tailored for AI workloads, with up to 50MW (IT load) liquid cooled capacity scheduled for delivery in 2025.
Contacts
| Media Megan Boles Aircover Communications +1 562 537 7131 [email protected] Jon Snowball Sodali & Co +61 477 946 068 +61 423 136 761 | Investors Mike Power IREN [email protected] |
FAQ
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