Dan Roberts, co-CEO of IREN Ltd, announced an ambitious plan to double its AI cloud infrastructure amid rising demand for GPU capacity, leveraging partnerships with NVIDIA and AMD.
IREN’s expansion signals a strategic pivot from bitcoin mining, highlighting increased institutional interest and potential impacts on related hardware markets like NVIDIA and AMD.
IREN, led by co-CEO Dan Roberts, is aggressively expanding its AI cloud infrastructure to meet rising compute demand. The move aims to double GPU capacity as customers demand greater scale and speed. Roberts noted, “IREN is aggressively expanding its AI cloud infrastructure, aiming to more than double its GPU capacity.”
IREN is pivoting from traditional bitcoin mining to focus on cloud-based GPU services. The company is collaborating with NVIDIA and AMD to ensure robust inventory and multi-vendor access.
23,000 New GPUs Target $500M Revenue by 2026
The expansion involves deployment of approximately 23,000 new GPUs, positioning IREN for an ambitious $500 million annual revenue target by 2026. This aims to minimize disruption to bitcoin operations, as ASIC units are reassigned. Dan Roberts emphasized, “The ambition to generate >$500 million AI Cloud ARR by Q1 2026 underscores our commitment to rapid expansion in response to demand.”
Analysts expect the demand surge for GPU and server components to affect stocks like NVIDIA (NVDA) and AMD positively. The focus is on physical infrastructure growth, not on-chain crypto asset transactions.
AI Infrastructure Shift Mirrors Industry Trends
Mining firms like Core Scientific and Hut 8 transitioning into AI services set past precedents. IREN’s broad >23,000 GPU deployment and dual partnerships with NVIDIA and AMD highlight its unique scope.
Analysts from Kanalcoin predict that IREN’s expansion could influence hardware valuations significantly, with ripple effects in associated software markets. The strategy reinforces AI’s vital infrastructure role.
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