Cryptocurrency mining firm IREN is significantly expanding its artificial intelligence (AI) capabilities. The company has invested in 4,200 NVIDIA Blackwell B200 GPUs to bolster its AI Cloud computing operations.
$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
This strategic investment totals approximately $193 million, covering both the GPUs and associated infrastructure expenses.
These powerful processors will be deployed at IREN’s dedicated data center located in Prince George, British Columbia, Canada. This facility currently boasts a 50 MW power capacity with the potential to accommodate up to 20,000 Blackwell GPUs.
This latest acquisition will nearly double IREN’s existing GPU inventory, bringing their total to around 8,500 NVIDIA devices, comprised of:
- ~800 H100;
- ~1100 H200;
- ~5400 B200;
- ~1200 B300.
IREN stated that a previous processor procurement, valued at $102 million, was financed via a 36-month leasing agreement carrying a “high single-digit interest rate.” This financing structure freed up internal capital to support further AI-driven business development initiatives.
“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 company also intends to maintain its Bitcoin mining hash rate at around 50 EH/s by utilizing reserve capacity in other data centers. IREN crossed the 50 EH/s mark in late June, joining MARA, CleanSpark, and Cango as leading miners.
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
Together, these four mining operations account for over 20% of the total Bitcoin network’s computing power. The overall network hash rate, averaged over seven days, is currently around 956 EH/s, according to data from Glassnode.
Of these major miners, IREN stands out by actively diversifying into the HPC sector, as highlighted by TheMinerMag. Industry experts note that several prominent players, including Bitfarms and TeraWulf, are increasingly focusing their investments on AI computing infrastructure, sometimes at the expense of Bitcoin mining output. Other companies, such as Core Scientific and HIVE, are pursuing a dual-track strategy, attempting to balance both AI and mining operations.
Earlier in August, Google became a major shareholder in TeraWulf, acquiring a 14% stake through the extension of financial guarantees connected to the agreement between the mining firm and cloud AI provider Fluidstack.
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