- IREN shares climbed 11% in pre-market trading following news of increased AI Cloud GPU capacity.
- The company has doubled its AI Cloud to 23,000 GPUs, aiming for over $500 million in annualized run-rate revenue by early 2026.
- IREN invested about $674 million in advanced NVIDIA and AMD GPUs for its data centers.
- The new fleet will serve customers from facilities in Prince George and Texas, eventually supporting more than 60,000 GPUs.
- The company will continue expanding its AI and Bitcoin mining operations while seeking financing that does not affect its 50 EH/s Bitcoin mining capacity.
IREN announced it has doubled its AI Cloud capacity to 23,000 GPUs, leading to an 11% jump in its share price before the market opened. The company set a new annualized run-rate revenue target of more than $500 million by the first quarter of 2026.
According to the recent update, IREN invested roughly $674 million to secure 7,100 NVIDIA B300s, 4,200 NVIDIA B200s, and 1,100 AMD MI350Xs. The new hardware will be delivered over the coming months to its Prince George campus in Canada and facilities in Texas. After full deployment, the company expects to host more than 60,000 Blackwell GPUs at these sites.
The expanded GPU fleet now contains 1,900 NVIDIA H100s and H200s, 19,100 NVIDIA B200s and B300s, 1,200 NVIDIA GB300s, and 1,100 AMD MI350Xs. The inclusion of AMD equipment is intended to broaden IREN‘s AI service offerings and attract a larger customer base.
Co-CEO Daniel Roberts stated, “As global demand for compute accelerates, customers are increasingly seeking partners who can deliver scale quickly. Doubling our fleet to more than 23,000 GPUs in just a few months highlights the strength of our vertically integrated platform.”
The company is pursuing additional financing to support its AI growth while aiming to avoid any negative impact on its Bitcoin mining operations, which currently have a capacity of 50 exahashes per second (EH/s). The current price of Bitcoin is reported at $108,783.53.
For more information, visit the official IREN investor news page.
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