Disclaimer: Information found on CryptoreNews is those of writers quoted. It does not represent the opinions of CryptoreNews on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoreNews covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.
The firm has placed an order for over 50,000 Nvidia GPUs and has submitted a request for a potential $6 billion at-the-market share sale, leading to a decline in stock prices during pre-market trading.
An engineer sits at a bank of high-performance computing rigs (Mark Agnor/Shutterstock modified by CoinDesk)
Key points:
- IREN has committed to acquiring over 50,000 Nvidia B300 GPUs, increasing its overall fleet to approximately 150,000 GPUs, with implementation anticipated in the latter half of the year across its facilities in British Columbia and Texas.
- The stock price declined by about 5% in pre-market trading following the company’s announcement of a proposed at-the-market equity offering of up to $6 billion.
Related Posts
IREN (IREN), a data center operator specializing in AI cloud infrastructure, has announced an agreement to purchase over 50,000 specialized processing chips from Nvidia (NVDA), enhancing its capacity by roughly 50%.
The B300 GPUs, or graphic processing units, will elevate the Sydney-based firm’s total AI computing fleet to around 150,000 GPUs. A GPU is a dedicated chip designed for executing a large volume of parallel computations, facilitating the rapid training and functioning of artificial intelligence models.
The company has also filed for a possible at-the-market share sale amounting to $6 billion as part of its larger capital management strategy. The stock decreased by 5% in pre-market trading on Thursday due to concerns over potential dilution.
The new hardware is expected to be implemented in stages throughout the second half of 2026 across the company’s air-cooled data centers in Mackenzie, British Columbia, and Childress, Texas. When fully operational, the expanded fleet is anticipated to support over $3.7 billion in annualized AI cloud revenue, positioning IREN among the leading AI cloud infrastructure providers globally.
IREN has reported securing approximately $9.3 billion in funding over the past eight months through customer prepayments, convertible notes, GPU leasing, and financing arrangements, with around $3.5 billion in additional capital expenditures projected for the new GPU deployments in the latter half of 2026.
