Iris Energy purchases 248 Nvidia GPUs worth $10M for generative AI and Bitcoin mining

Nasdaq-listed Iris Energy has actually purchased 248 cutting edge Nvidia H100 GPUs for $10 million as it wants to check out chances in generative expert system (AI) in addition to its core service concentrate on Bitcoin (BTC) mining.

The company anticipates to get shipment of the 248 GPUs in the coming months and strategies to release the hardware to serve chances in cloud computing.

Iris Energy co-founder and co-CEO Daniel Roberts stated the business was wanting to utilize its existing information centers into serving generative AI computing requirements:

” Our company believe need for sustainable computing is not likely to disappear, and feel we are distinctively placed to catch continuous development in the wider market; whether that be ASICs for Bitcoin mining, or GPUs for generative AI and beyond.”

Iris Energy runs in areas that have an abundance of renewable resource– consisting of wind, solar and hydro– and has actually established its modular information centers close by to the source of inexpensive excess renewable resource to be generated income from for Bitcoin.

According to Iris Energy’s site, it has 4 significant information center mining centers, consisting of Canal Flats, Mackenzie and Prince George in Canada’s British Columbia along with its Childress website in Texas.

Related: Tether CTO stays quiet on Bitcoin mining places

Renewable-powered Bitcoin mining operations continue to bring in financial investment, with Genesis Digital Assets Limited opening a brand-new information center in Sweden in August 2023 that will run off plentiful power from the close-by Porjus Hydroelectric Power Station.

On the other hand, Blockstream just recently revealed its intent to raise approximately $50 million in a main financial investment note to acquire, shop and after that offer BTC mining hardware ahead of Bitcoin’s next halving occasion in 2024.

GPU hardware maker Nvidia has actually likewise seen substantial windfall from the increase of AI-powered tools and AI computing, with its overall market capitalization eclipsing $1 trillion in Might 2023.

Nvidia likewise just recently teased its next-generation GH200 Grace Hopper Superchip, which is promoted to be able to procedure complex generative AI work, consisting of big language designs, recommender systems and vector databases.

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