IREN Allocates $130M for NVIDIA Blackwell GPUs to Expand AI Cloud – HostingJournalist.com

IREN has revealed a $130 million investment to purchase 2,400 units of NVIDIA’s new Blackwell B200 and B300 GPUs, aiming to enhance its AI cloud capabilities. The acquisition will be fully funded by existing cash reserves, with the company considering various long-term financing options for broader AI Cloud Services expansion.

IREN Limited, formerly Iris Energy, is an Australian company focused on high-density computing services. It operates next-gen data centers powered entirely by renewable energy, with facilities in British Columbia (Canal Flats, Mackenzie, and Prince George) and Childress, Texas, integrating bitcoin mining, AI cloud infrastructure, and GPU-accelerated workloads.

The deployment, including 1,300 B200 and 1,100 B300 GPUs, will be implemented over the upcoming months at IREN’s Prince George campus in British Columbia. This facility, a key part of IREN’s AI operations, currently hosts 1,900 Hopper GPUs. With this acquisition, IREN’s GPU fleet will expand to about 4,300 NVIDIA GPUs, necessitating the relocation of some mining equipment to other sites.

Prince George is set to become a major hub for AI infrastructure, with 50 megawatts of dedicated power capacity supporting over 20,000 Blackwell GPUs. This positions IREN with a clear path for scaling in a constrained supply market. The Blackwell architecture’s performance and efficiency gains would make IREN one of the first cloud providers to offer such advanced compute power.

As demand for accelerated computing rises among cloud operators, hyperscalers, and AI-native firms, IREN’s move aligns with the industry trend toward infrastructure modernization. The deployment is expected to enhance partnerships in its AI data center business and deliver strong risk-adjusted returns.

With 2,910 megawatts of grid-connected power and a vertically integrated model, IREN provides infrastructure solutions ranging from powered shells to fully managed AI cloud services. Co-CEO Daniel Roberts called the investment a strategic and economic milestone, supporting IREN’s current customer needs and long-term growth.