IREN Limited (NASDAQ:IREN) saw its stock rise by 15% after announcing a substantial investment in next-generation NVIDIA (NASDAQ:NVDA) Blackwell GPUs. The company confirmed the purchase of 2,400 GPUs, valued at roughly $130 million including installation costs, fully financed through existing cash reserves.

The acquisition consists of 1,300 B200 and 1,100 B300 GPUs slated for installation at IREN’s campus in Prince George, British Columbia, over the next few months. This move will boost IREN’s total GPU count to around 4,300 units, when added to the 1,900 Hopper GPUs already in operation.

IREN’s Prince George facility, equipped with a dedicated 50MW power supply, is designed to ultimately accommodate more than 20,000 Blackwell GPUs, providing ample capacity for future expansion. The company is actively exploring various funding options to support ongoing growth in its AI Cloud Services division.

Co-CEO Daniel Roberts emphasized the dual benefits of this investment: “This investment is compelling on two fronts: strong near-term economics and meaningful strategic positioning. Expanding our Blackwell footprint not only enables us to meet current customer demand, it also supports the broader infrastructure conversations driving our next phase of growth.”

The company also pointed out that the Blackwell GPU architecture offers substantial improvements in speed and energy efficiency, positioning IREN as one of the first cloud providers to deliver next-gen computing power amid global supply limitations. IREN anticipates that this rollout will generate attractive risk-adjusted returns and enhance its active AI Data Center engagements.

Backed by 2,910 MW of grid-connected electricity, IREN’s vertically integrated platform delivers a range of services, including powered shells, customized build-to-suit options, turnkey colocation, and fully managed cloud solutions.

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