IREN Expands AI Cloud to 10.9k GPUs, with NVIDIA Preferred Partner Status and Additional Financing Secured

NEW YORK, Aug. 28, 2025 (GLOBE NEWSWIRE) -- IREN Limited (NASDAQ: IREN) (“IREN”) today announced it has secured NVIDIA Preferred Partner status and procured an additional 1.2k air-cooled NVIDIA B300s and 1.2k liquid-cooled NVIDIA GB300s for approximately $168m,¹ expanding its total GPU fleet to 10.9k NVIDIA GPUs.

IREN has secured approximately $96m in financing to support the purchase of the GB300s.¹ The financing is structured as a 24-month lease and represents 100% of the purchase price, with lease payments calculated utilizing a high single digit interest rate. The B300 GPUs are funded from existing cash, with further financing workstreams underway.

The GPUs will be installed over the coming months at IREN’s Prince George campus, where construction is underway on a 10MW (IT load) liquid-cooled installation capable of supporting more than 4.5k GB300s.

These NVIDIA B300 and GB300 NVL72 Systems will expand IREN’s AI Cloud over the coming months to approximately 10.9k NVIDIA GPUs, consisting of:

• 0.8k NVIDIA H100s
• 1.1k NVIDIA H200s
• 5.4k NVIDIA B200s
• 2.4k NVIDIA B300s
• 1.2k NVIDIA GB300s
  
  

“We are pleased to have secured NVIDIA Preferred Partner status and additional non-dilutive GPU financing, enabling us to expand our cloud offering with liquid-cooled, next-generation NVIDIA GB300 NVL72 systems” said Daniel Roberts, Co-Founder & Co-CEO of IREN.

“Supporting both liquid-cooled and air-cooled systems within the same data center campus highlights the versatility of our data center platform - underpinned by nearly 3GW of grid-connected power and scalable to hundreds of thousands of GPUs.”

Assumptions and Notes

1. Includes servers, InfiniBand, cabling, software and licensing costs
   

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or IREN’s future financial or operating performance. For example, forward-looking statements include but are not limited to IREN’s business strategy, expected operational and financial results, and expected increase in power capacity and hashrate. In some cases, you can identify forward-looking statements by terminology such as “anticipate,” “believe,” “may,” “can,” “should,” “could,” “might,” “plan,” “possible,” “project,” “strive,” “budget,” “forecast,” “expect,” “intend,” “target”, “will,” “estimate,” “predict,” “potential,” “continue,” “scheduled” or the negatives of these terms or variations of them or similar terminology, but the absence of these words does not mean that statement is not forward-looking. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. In addition, any statements or information that refer to expectations, beliefs, plans, projections, objectives, performance or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking.

These forward-looking statements are based on management’s current expectations and beliefs. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause IREN’s actual results, performance or achievements to be materially different from any future results performance or achievements expressed or implied by the forward looking statements, including IREN’s ability to successfully execute on its growth strategies and operating plans, including its ability to continue to develop its existing data center sites, design and deploy direct-to-chip liquid cooling systems, and diversify and expand into the market for high performance computing solutions (including the market for cloud services and potential colocation services and other important factors discussed under the caption “Risk Factors” in IREN’s annual report on Form 20-F filed with the SEC on August 28, 2024 as such factors may be updated from time to time in its other filings with the SEC, accessible on the SEC’s website at www.sec.gov and the Investor Relations section of IREN’s website at https://investors.iren.com. These and other important factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any forward-looking statement that IREN makes in this press release speaks only as of the date of such statement. Except as required by law, IREN disclaims any obligation to update or revise, or to publicly announce any update or revision to, any of the forward-looking statements, whether as a result of new information, future events or otherwise.

About IREN

IREN is a leading developer, owner and operator of next-generation data centers powering the future of Bitcoin, AI and beyond utilizing 100% renewable energy including through the purchase of RECs. Strategically located in renewable-rich, fiber-connected regions across the U.S. and Canada, IREN’s large-scale, grid-connected facilities are purpose-built for the next generation of power-dense computing applications.

• Power & Land Portfolio: 2,910MW of grid-connected power secured across >2,000 acres in the U.S. and Canada, with an additional multi-gigawatt development pipeline.
• Next-Generation Data Centers: 810MW of operating data centers underpinning three verticals: Bitcoin Mining, AI Cloud Services and AI Data Centers.
• Bitcoin Mining: one of the world’s largest and lowest-cost Bitcoin producers with 50 EH/s of installed self-mining capacity.
• AI Cloud Services: delivering high performance cloud compute to AI customers with next-generation NVIDIA GPUs.
• AI Data Centers: end-to-end design, construction and operation of data center infrastructure tailored for AI workloads.
  
  

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