IREN has unveiled a significant expansion of its AI Cloud infrastructure, doubling its GPU capacity to approximately 23,000 units thanks to a substantial investment of $674 million. This ambitious move is set to propel the company towards an expected annual revenue of over $500 million from its AI Cloud services by early 2026.
The recent procurement consists of 7,100 NVIDIA B300s, 4,200 NVIDIA B200s, and 1,100 AMD MI350Xs, showcasing the company’s commitment to meeting the rising demand for high-performance computing hardware. Deliveries of these new units will be staged over the coming months at IREN’s facilities in British Columbia, significantly enhancing its GPU inventory, which already includes 1,900 NVIDIA H100s and H200s, along with a variety of other NVIDIA and AMD models.
With the incorporation of AMD chips alongside NVIDIA systems, IREN aims to expand its market appeal to a wider range of enterprise and research clients, reflecting the growing need for diverse AI compute solutions.
IREN’s Canadian campuses are designed to accommodate over 60,000 Blackwell GPUs, with plans for further expansion in Texas. To support this scaling up, the company is exploring financing options. While there may be some impact on its Bitcoin mining capacity, IREN plans to offset this by reallocating ASIC miners to different sites.
This expansion highlights a broader trend in the AI industry, where businesses are increasingly seeking pre-contracted computing resources to ensure they have access to necessary infrastructure. With its integrated platform and rapid deployment capabilities, IREN is strategically positioning itself as a leader in fulfilling this rising demand.
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