Bitcoin Miner IREN Invests $193 Million in AI Computing

IREN acquires 4,200 NVIDIA GPUs for AI Cloud expansion.

IREN, a company engaged in mining the first cryptocurrency, has acquired 4,200 NVIDIA Blackwell B200 graphics processors as part of its AI Cloud computing division expansion.

$IREN is pleased to announce an expansion of its AI Cloud business.

Purchase of 4.2k NVIDIA Blackwell B200 GPUs
— Initial commitment made from cash, financing conversations underway
— Deploying at Prince George data center
— Expands AI Cloud to approximately 8.5k GPUs

$102m in…

— IREN (@IREN_Ltd) August 25, 2025

The deal amounts to approximately $193 million, including payment for auxiliary equipment.

The firm will deploy the GPU at its data center in Prince George, British Columbia, Canada. The facility has a dedicated capacity of 50 MW and can potentially scale up to 20,000 Blackwell graphics processors.

As a result of the latest purchase, IREN will nearly double its GPU fleet to approximately 8,500 NVIDIA devices, which will include:

• ~800 H100;
• ~1100 H200;
• ~5400 B200;
• ~1200 B300.

The company disclosed that the previous batch of processors, worth $102 million, was financed through leasing. The agreement is for 36 months at a “high single-digit interest rate.” This financing allowed the release of internal funds for further business development initiatives in the AI segment.

“IREN’s expansion of Blackwell capacities aims to meet increased demand and develop the next stage of our AI Cloud with growing revenue from cloud technologies,” commented co-founder and CEO Daniel Roberts.

The firm also plans to maintain its current Bitcoin network hash rate of around 50 EH/s by utilizing reserve capacities in other data centers. IREN surpassed this threshold at the end of June, joining MARA, CleanSpark, and Cango.

A defining milestone for $IREN.

In just 18 months, we’ve energized over 600MW of data centers and scaled from 5.6 to 50 EH/s of self-mining capacity, driven entirely by disciplined organic growth.

Through a combination of scale, efficiency, and disciplined execution, $IREN has… pic.twitter.com/nec1L5uqnM

— IREN (@IREN_Ltd) July 1, 2025

These four miners control over 20% of the first cryptocurrency network, whose cumulative hash rate, smoothed by a 7-day moving average, stands at 956 EH/s, according to Glassnode.

However, only IREN among this quartet follows the popular trend of diversifying business into the HPC sector, noted TheMinerMag. Experts observed that several major industry players like Bitfarms and TeraWulf are already investing more in AI computing infrastructure, sacrificing cryptocurrency mining volumes. Other participants, such as Core Scientific and HIVE, are trying to balance both directions.

In August, Google became the largest shareholder of TeraWulf with a 14% stake through the expansion of financial guarantees for the deal between the miner and the cloud AI platform Fluidstack.