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Investing.com -- Iris Energy Limited (NASDAQ:IREN) stock rose 8% Monday after the company announced it has procured an additional 4,200 NVIDIA Blackwell B200 GPUs, effectively doubling its total GPU fleet to approximately 8,500 NVIDIA GPUs.
The company purchased the additional B200 GPUs for approximately $193 million, including ancillary equipment. Iris Energy also secured $102 million in financing for a prior purchase of NVIDIA Blackwell B200 and B300 GPUs, structured as a 36-month lease for the full purchase price with lease payments calculated at a high single-digit interest rate.
The newly acquired B200 GPUs will be installed at the company’s Prince George campus, while total installed mining capacity is expected to remain at approximately 50 EH/s through efficient utilization of spare data center capacity at other sites.
With the expansion, Iris Energy’s AI Cloud will consist of 800 NVIDIA H100s, 1,100 NVIDIA H200s, 5,400 NVIDIA B200s, and 1,200 NVIDIA B300s. The company noted that its Prince George campus, with 50MW of total power capacity, can support phased growth to approximately 20,000 Blackwell GPUs.
Daniel Roberts, Co-Founder and Co-CEO of Iris Energy, stated that the expanded Blackwell capacity positions the company to capture strong demand and drive the next phase of its AI Cloud revenue growth, adding that utilizing competitively priced, non-dilutive capital further strengthens the value proposition in scaling the AI Cloud business.
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