IREN has announced a significant investment of $130 million to acquire 2,400 next-generation Blackwell GPUs from NVIDIA. This strategic move aims to enhance IREN’s AI cloud capabilities, thereby boosting performance, scalability, and the green data infrastructure of the company.
The investment will be funded entirely through existing cash reserves while IREN evaluates various long-term financing options to support an expanded AI cloud service portfolio. As a company focused on high-density computing services, IREN operates advanced data centers powered entirely by renewable energy, with facilities located in British Columbia and Texas.
The deployment of these GPUs, which includes 1,300 B200 and 1,100 B300 units, will take place over the coming months at the Prince George campus, a key site for IREN’s AI operations that already hosts 1,900 Hopper GPUs. With the addition of the new GPUs, IREN’s fleet will expand to approximately 4,300 NVIDIA GPUs, necessitating the relocation of some mining equipment to accommodate this increase.
Prince George is poised to become a central hub for AI infrastructure, boasting 50 megawatts of dedicated power capable of supporting over 20,000 Blackwell GPUs. The new architecture is expected to significantly enhance performance and efficiency, making IREN one of the first cloud providers to deliver next-generation computing power.
As the demand for accelerated computing rises among cloud operators and AI-focused companies, IREN’s initiative aligns with a broader industry trend towards modernization of infrastructure. The deployment is expected to solidify partnerships within the AI data center sector and to yield solid risk-adjusted returns for the company.
With 2,910 megawatts of grid-connected power and a vertically integrated operational model, IREN provides a wide array of infrastructure solutions ranging from powered shells to comprehensive AI cloud services. Co-CEO Daniel Roberts emphasized that this investment is both a strategic and economic milestone, reinforcing IREN’s capacity to meet current customer demands while facilitating long-term growth.
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