Iris Energy Purchases NVIDIA H100 GPUs to Target Generative AI

SYDNEY, Australia, Aug. 29, 2023 (GLOBE NEWSWIRE) -- Iris Energy Limited (NASDAQ: IREN) (together with its subsidiaries, “Iris Energy”, or the “Company”), a leading owner and operator of institutional-grade, highly efficient Bitcoin mining data centers powered by 100% renewable energy, today announced the purchase of NVIDIA’s latest-generation artificial intelligence (“AI”) H100 GPUs.

Key Highlights

• Company’s next-generation data centers to now target the generative AI market
• Initial purchase of 248 NVIDIA H100 GPUs for ~US$10 million¹
• Core business remains Bitcoin mining; generative AI represents additional opportunity
  

Bitcoin mining continues to be an attractive business for the Company. Potential expansion into adjacent computing markets, including generative AI, is enabled through:

• Next-generation data centers designed, tested and proven for power dense computing
• Proprietary, high-efficiency cooling systems
• 100% renewable energy
• 760MW of available power capacity²
• Management team track record & experience
  

The initial purchase of 248 NVIDIA H100 GPUs for ~US$10 million¹ is expected to be delivered in the coming months and will allow the Company to:

• Further assess the appropriateness of its next-generation data centers for servicing adjacent computing markets such as generative AI³
• Demonstrate capability to prospective customers

Daniel Roberts, Co-Founder and Co-CEO of Iris Energy, commented:

“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.”

Denis Skrinnikoff, Chief Technology Officer of Iris Energy, commented:

“Having spent my career building, designing and operating Tier 2-4 data center facilities, I believe Iris Energy is uniquely positioned to capitalize on the generative AI opportunity. Without the constraints of more traditional colocation & hyperscale data centers, we envisage being able to continue developing and delivering cutting-edge, fit-for-purpose and eco-friendly compute.”