IREN Soars 11%: Bitcoin Miner’s AI Fleet Doubles!

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Markets

What to know:

  • Stock surges to $43 in pre-market trading on capacity boost and strong AI demand outlook 💸🧠
  • Expanded fleet includes NVIDIA B300s, B200s and AMD MI350Xs, with deployments staged at Prince George campus 🏗️

Oh, what a glorious day for IREN (IREN)! The stock, in a fit of madness, leapt 11% to $43 in pre-market trading, as if the very fabric of reality had been torn apart by the sheer *vision* of doubling its AI Cloud capacity to 23,000 GPUs. A $500 million revenue target by 2026? How quaint! 🤡

The company, in a moment of fiscal recklessness, invested $674 million in 7,100 NVIDIA B300s, 4,200 NVIDIA B200s, and 1,100 AMD MI350Xs. Deliveries will be staged over the coming months at IREN’s Prince George campus, which, alongside Texas facilities, can eventually host over 60,000 Blackwell GPUs. A utopia of computation, perhaps? 🧠💸

The expanded fleet now includes 1,900 NVIDIA H100s and H200s, 19,100 NVIDIA B200s and B300s, 1,200 NVIDIA GB300s, and 1,100 AMD MI350Xs. The addition of AMD hardware? A masterstroke of inclusivity, or merely a desperate attempt to outshine competitors? 🤷‍♂️

“As global demand for compute accelerates, customers are increasingly seeking partners who can deliver scale quickly,” said Co-CEO Daniel Roberts, whose words drip with the honeyed rhetoric of a man who has forgotten the meaning of *moderation*. “Doubling our fleet to more than 23,000 GPUs in just a few months highlights the strength of our vertically integrated platform.” A platform, one might ask, built on what? Dreams? 💸

IREN, in its infinite wisdom, is simultaneously working on financing initiatives to support growth while mitigating any impact on its 50 EH/s bitcoin mining operations. A balancing act, surely, between the sacred and the profane. 🧠💰

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2025-09-22 16:15