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Using $10 million, Iris Energy purchased 248 NVIDIA GPUs for generative AI


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    The leading sustainable Bitcoin mining company, Iris Energy, has purchased Nvidia H100 GPUs for $10 million to explore generative AI and Bitcoin mining.

    $IREN today announced the purchase of @NVIDIA’s latest-generation #AI H100 GPUs

    – Next-gen data centers to now target generative #AI
    – Initial purchase of 248 @NVIDIA H100 GPUs for ~US$10m
    – Core business remains #BTC mining; generative #AI represents additional opportunity

    — Iris Energy (@irisenergyco) August 29, 2023

    Daniel Roberts, Co-Founder and Co-CEO of Iris Energy, said, “Leveraging our next-generation data centers into generative AI is an exciting opportunity, particularly given current industry shortages in rack space and compute. 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.”

    Iris Energy operates four major data center mining facilities in Mackenzie, Canal Flats, Childress in Texas, and Prince George in Canada’s British Columbia.

    Iris Energy also noted, “Our core business remains Bitcoin mining,” while adding that “generative AI represents an additional opportunity” for the upcoming generation data center to target the generative AI market.

    Iris Energy’s strategic move into generative AI alongside sustainable Bitcoin mining reflects their proactive stance in adapting to tech trends and maximizing growth opportunities.

    Also Read: Blockchain-Harnessing AI Project Jada Gets $25M in Funding

    Ronak is a dedicated content writer with a keen eye for detail and a passion for blockchain and cryptocurrency. His interest in these fields was sparked through his work, and he continues to expand his knowledge in these areas. He loves to watch anime and binge watches during his free time.

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