Bitcoin miner IREN expands AI cloud with Nvidia Blackwell chips

IREN

03/07/2025 13:54

** Bitcoin miner IREN IREN.O announces purchase of 2,400 next-generation Nvidia Blackwell B200 and B300 GPUs worth $130 mln

** The Australia-based co says acquisition is fully funded from existing cash

** Co expects the investment to deliver attractive risk-adjusted returns and support discussions around its AI Data Center business

** IREN is evaluating financing alternatives to support AI cloud services growth

** Shares up 0.26% to $15.70 in choppy premarket trading

** Earlier in the month, co closed $500 mln convertible notes offering, intending to use net proceeds to pay for capped calls, derivative transactions to offset dilution and general purposes

** As of last close, stock up 59.47% YTD

 (Reporting by Ankita Yadav in Bengaluru)

 ((Ankita.Yadav@thomsonreuters.com;))