Iris Energy Limited (NASDAQ:IREN) announced that it has purchased 248 of NVIDIA’s latest-generation artificial intelligence (AI) H100 GPUs for approximately US$10 million.
The sustainable Bitcoin mining company said the initial purchase is expected to be delivered in the coming months and will allow the company to further assess the appropriateness of its next-generation data centers for servicing adjacent computing markets such as generative AI, as well as demonstrate capability to prospective customers.
"Leveraging our next-generation data centers into generative AI is an exciting opportunity, particularly given current industry shortages in rack space and compute," Iris Energy co-CEO Daniel Roberts said in a statement.
"We believe demand for sustainable computing is unlikely to go away, and feel we are uniquely positioned to capture ongoing growth in the broader industry; whether that be ASICs for Bitcoin mining, or GPUs for generative AI and beyond," he added.
Iris noted its core business remains Bitcoin mining, while generative AI represents an additional opportunity as its next-generation data centers will now target the generative AI market.
Iris Energy is a sustainable Bitcoin mining company that supports the decarbonization of energy markets and the global Bitcoin network.
Contact Sean at sean@proactiveinvestors.com