IREN Doubles AI Cloud to 23k GPUs, Raises AI Cloud ARR Target to >$500m
NEW YORK, Sept. 22, 2025 (GLOBE NEWSWIRE) — IREN Limited (NASDAQ: IREN) (“IREN”) today announced it has doubled its AI Cloud capacity to 23k GPUs following the procurement of an additional 12.4k GPUs, and is now targeting more than $500m in AI Cloud annualized run-rate revenue (ARR) by Q1 2026.1
To meet rising demand, IREN has purchased 7.1k NVIDIA B300s, 4.2k NVIDIA B200s and 1.1k AMD MI350Xs for approximately $674m.2 The order reflects a growing trend of customers contracting capacity ahead of delivery, with IREN in discussions for multi-thousand Blackwell clusters.
Deliveries will be staged over the coming months at IREN’s Prince George campus and are expected to support the >$500m AI Cloud ARR target by the end of Q1 2026.1 The expanded fleet will total approximately 23k GPUs:
- 1.9k NVIDIA H100s & H200s
- 19.1k NVIDIA B200s & B300s
- 1.2k NVIDIA GB300s
- 1.1k AMD MI350Xs
The addition of AMD hardware alongside further NVIDIA GPUs broadens IREN’s offering and addressable market.
AI Cloud demand continues to outpace global supply, with a growing appetite among customers to contract capacity ahead of commissioning.
IREN is well positioned to capture this demand, with its British Columbia campuses capable of supporting more than 60k Blackwell GPUs3, in addition to its Texas data centers. Financing workstreams are underway to support this growth, with any impact to IREN’s Bitcoin mining capacity expected to be mitigated by redeploying ASICs to other sites.
Daniel Roberts, Co-Founder & Co-CEO of IREN, said:
As global demand for compute accelerates, customers are increasingly seeking partners who can deliver scale quickly,
“Doubling our fleet to more than 23,000 GPUs in just a few months highlights the strength of our vertically integrated platform and our ability to meet urgent, long-term demand. The shift toward pre-contracting ahead of delivery provides further momentum for the growth of our AI Cloud business.”
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IREN Doubles AI Cloud to 23k GPUs, Raises AI Cloud ARR Target to >$500m, source
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