The Australia-based bitcoin miner announced on Monday that IREN will double its AI cloud computing capacity to 23,000 units after acquiring an additional 12,400 GPUs and expects to achieve more than $500 million in annualized revenue by Quarter 1 in 2026. Its shares rose 9% in premarket trading to nearly $42, continuing a rally that broke through $38 last week to set a new all-time high. The total order of $674 million includes 7,100 Nvidia B300, 4,200 Nvidia B200 and 1,100 AMD MI350X GPUs, expanding the company's hardware lineup beyond Nvidia.
The new batch of equipment will bring IREN's total number of GPUs to about 23,000, including 1,900 Nvidia H100 and H200, 19,100 B200 and B300, 1,200 GB300, and 1,100 AMD MI350X. IREN said it is in talks with customers for orders for thousands of GPU clusters, noting that computing power demand continues to outpace global supply, with customers increasingly signing contracts ahead of delivery.
IREN shares soar as its GPU cluster doubles to 23,000 units
2025-09-23 04:53:57
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