IREN Secures 50,000+ Nvidia B300 GPUs to Fuel $3.7 Billion AI Cloud Ambition

Mar 6, 2026 (1 days ago)

Positive

IREN committed to acquiring over 50,000 Nvidia B300 GPUs, targeting a $3.7 billion AI Cloud revenue run-rate by late 2026.

Massive AI Infrastructure Buildout

Agreements signed for over 50,000 Nvidia B300 GPUs, increasing the total fleet size to 150,000 units1, 2, 3, 4, 6
This expanded capacity is projected to support an AI Cloud annualized run-rate revenue target exceeding $3.70 billion by the end of fiscal 20261, 2, 3, 6
Deployment of these new GPUs is scheduled to occur in phases throughout the second half of fiscal 20262, 4
The company views early procurement as a strategic advantage in the supply-constrained GPU market, ensuring execution certainty for customers6

IREN has secured approximately $9.30 billion in funding over the last eight months through various means, including customer prepayments and financing1, 2, 4
To support the new GPU orders, the company anticipates needing an additional $3.5 billion in capital expenditures during the second half of 20263, 4, 6
An at-the-market equity program of up to $6.00 billion has been established, managed by eleven financial institutions including Goldman Sachs and JPMorgan1, 5, 6

The company is actively pivoting its core business focus away from traditional Bitcoin mining operations toward AI cloud infrastructure services1
The newly acquired hardware will be deployed across existing data center locations in Mackenzie, British Columbia, and Childress, Texas4

IREN operates in an intensely competitive AI infrastructure space, facing rivals like Applied Digital and TeraWulf2
Competitors are also expanding, with Applied Digital announcing a large AI data center campus construction2