• Sydney-based Iren agreed to buy greater than 50,000 Nvidia B300 GPUs, rising its AI compute fleet by roughly 50% to roughly 150,000 chips whole.
  • The {hardware} will likely be deployed in phases at information centres in Mackenzie, British Columbia and Childress, Texas all through the second half of 2026, with Iren projecting greater than US$3.7 billion (AU$5.2 billion) in annualised AI cloud income as soon as totally operational.
  • To fund the roughly US$3.5 billion (AU$4.9 billion) in further capital expenditure required, Iren launched an at-the-market fairness providing of as much as US$6 billion (AU$8.5 billion); its shares fell about 5% in pre-market buying and selling on dilution considerations.

Sydney-based Bitcoin miner Iren has agreed to purchase roughly 50,000 Nvidia B300 GPUs, increasing its whole fleet by round 50% to about 150,000 GPUs.

The corporate said the {hardware} will likely be equipped by means of Dell and deployed in phases in the course of the second half of 2026 at its information centres in Mackenzie, British Columbia, and Childress, Texas. The B300 is a part of Nvidia’s latest-generation GPU lineup for AI workloads.

Iren CEO Daniel Roberts stated the complete 150,000-GPU fleet is predicted to help greater than US$3.7 billion (AU$5.66 billion) in annualised AI cloud income run fee as soon as deployment is full by late 2026.

Scaling to 150,000 GPUs positions IREN among the many largest AI cloud infrastructure suppliers globally and underscores the energy of our vertically built-in platform. In a supply-constrained atmosphere, early {hardware} procurement reduces time-to-compute and will increase execution certainty as we scale.

Daniel Roberts, Co-Founder and Co-CEO of IREN

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Funding The Buildout

To help the buildout, the corporate stated it has secured or organized about US$9.3 billion (AU$14.23 billion) in funding capability over the previous eight months by means of buyer prepayments, convertible notes, GPU leasing agreements and exterior financing.

The most recent GPU order would require an extra US$3.5 billion (AU$5.36 billion) in capital expenditure within the second half of 2026. That spending covers GPUs, servers, storage, networking, labour and associated tools.

The order is Iren’s largest single compute fleet growth up to now. The agency has additionally established an at-the-market fairness programme that enables it to lift as much as US$6 billion (AU$9.18 billion) by promoting shares over time. 

The corporate’s pre-market share value fell about 5% after the announcement, in accordance with Google Finance.

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