IREN has placed a $130 million order for 2,400 NVIDIA Blackwell GPUs, lifting its total AI Cloud capacity to roughly 4,300 units. IREN used cash from its balance sheet to purchase the units.
The GPU purchase, comprising 1,300 B200 and 1,100 B300 cards, will be installed at IREN’s Prince George, British Columbia campus over the coming months. With 50 MW of dedicated power on site, the facility could ultimately host more than 20,000 Blackwell GPUs.
Just weeks earlier, IREN closed an upsized $550 million convertible notes deal at a 3.50% coupon and 30% conversion premium, securing more than $530 million of net proceeds to fund growth across its platform. Just a few days ago, IREN achieved its mid-year target of 50 EH/s of mining capacity.
Read More: IREN hits 50 EH/s target following upsized $550 million convertible notes offering
Co-CEO Daniel Roberts said the Blackwell GPUs “deliver compelling near-term economics while positioning IREN at the forefront of AI infrastructure,” noting that Blackwell GPUs remain in short supply globally.
At time of publication, IREN is up 1.5% premarket.
