IREN (IREN), an Australian-based data center business, has entered into a formal agreement to purchase 50,000 Nvidia (NVDA) B300 GPUs.
This will expand its fleet to more than 150,000 GPUs. It expects to deploy the new GPUs in its existing data centers in Mackenzie, British Columbia, and Childress, Texas, during the second half of 2026.
“Scaling to 150,000 GPUs positions IREN among the largest AI cloud infrastructure providers globally and underscores the strength of our vertically integrated platform,” said IREN co-founder and CEO Daniel Roberts. “In a supply-constrained environment, early hardware procurement reduces time-to-compute and increases execution certainty as we scale.”
IREN has secured $9.3B of funding in the past eight months across customer prepayments, convertible notes, GPU leasing, and GPU financing. The company expects to leverage these and other capital sources to finance approximately $3.5B of additional capex for these orders, which includes GPUs, servers, storage, networking, labor, and ancillary equipment.
IREN shares gained nearly 13% by the time the markets closed on Wednesday.