IREN Expands GPU Fleet to 8,500 Units with New Purchase

IREN Limited (NASDAQ:IREN) is one of the 10 Hot Mid Cap Stocks to Buy Now. On August 25, IREN Limited (NASDAQ:IREN) reported that it has purchased 4,200 NVIDIA Blackwell B200 GPUs. This transaction doubles the total GPU fleet of IREN Limited (NASDAQ:IREN) to about 8,500 NVIDIA GPUs.

According to the report, IREN Limited (NASDAQ:IREN) will install the new B200s at its Prince George campus, which will support the company’s phased growth to around 20,000 Blackwell GPUs.

Additionally, IREN Limited (NASDAQ:IREN) has secured $102 million in financing for a previous purchase of NVIDIA Blackwell B200 and B300 GPUs. This will help the company support its future growth plans, including the acquisition of more Blackwell GPUs.

By expanding its Blackwell capacity positions, the company is positioning itself strongly to meet growing demand and support the next phase of its AI cloud revenue growth.

IREN Limited (NASDAQ:IREN) develops, owns, and operates data centers. The company focuses on Bitcoin mining, high-performance computing solutions, and AI cloud services.

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Disclosure: None. This article is originally published at Insider Monkey.