IREN Acquires 50,000 Nvidia GPUs to Expand Data Center Operations
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 04 2026
0mins
Should l Buy IREN?
Source: seekingalpha
- GPU Procurement Agreement: IREN has entered into a formal agreement to purchase 50,000 Nvidia B300 GPUs, expanding its total GPU fleet to over 150,000, with deployment expected in the second half of 2026 at data centers in British Columbia and Texas, thereby solidifying its position among the largest AI cloud infrastructure providers globally.
- Funding Achievement: Over the past eight months, IREN has secured $9.3 billion in funding through customer prepayments, convertible notes, GPU leasing, and financing, demonstrating its strong market appeal and financial capability to support its expansion plans.
- Capital Expenditure Plans: The company anticipates leveraging these funds and other capital sources to finance approximately $3.5 billion for this GPU order and related equipment, including servers, storage, networking, and labor, further enhancing its infrastructure capabilities.
- Positive Market Reaction: IREN shares rose nearly 13% by market close, reflecting investor confidence in its expansion plans and future growth potential, indicating the company's strategy to reduce time-to-compute and increase execution certainty through early hardware procurement in a supply-constrained environment.
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Analyst Views on IREN
Wall Street analysts forecast IREN stock price to rise
12 Analyst Rating
8 Buy
2 Hold
2 Sell
Moderate Buy
Current: 52.020
Low
39.00
Averages
80.40
High
136.00
Current: 52.020
Low
39.00
Averages
80.40
High
136.00
About IREN
IREN Limited is an Australia-based company, which owns and operates data centers powered by 100% renewable energy. Its facilities are optimized for Bitcoin mining, artificial intelligence (AI) cloud services, and other power-dense compute. Its data center mining facilities are in Canal Flats, Mackenzie, Prince George and Childress. Bitcoin Mining provides security to the Bitcoin network. Al Cloud Services provides cloud compute to Al customers, approximately 1,896 NVIDIA H100 and H200 GPUs. Its Canal Flats facility is in the Canadian Rockies, 100 kilometers (km) from Cranbrook regional airport and 500km east of Vancouver. Its facility is in Prince George, the city in northern British Columbia, located 500 km north of Vancouver. Its facility is located in Childress County, Texas, over 250 miles northwest of Dallas and in close proximity to multiple wind and solar generating facilities in the region. Its Childress operations comprise 200 Mega Watt of operating data centers.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Earnings Report Outlook: The upcoming earnings report is viewed as a pivotal moment, with the market generally expecting it to showcase strong performance; if results exceed expectations, it could significantly boost investor confidence.
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- Volume Spike: Trading volume reached 57.2 million shares, about 56% above the three-month average of 36.7 million shares, suggesting a notable increase in investor interest and potentially signaling sustained growth ahead.
- Strong Market Performance: Since its IPO in 2021, Iren's stock has risen 86%, and it has soared over 750% in the past year, demonstrating robust performance amid rising demand for AI computing, particularly following a deal with Microsoft.
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See More
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See More
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- New Land Acquisition: Iren secured 1.6 gigawatts of grid-connected land in Oklahoma, complementing its 160 megawatts of data centers in Canada and 2.75 gigawatts in Texas, bringing its total capacity to 4.5 gigawatts and enhancing its competitive edge.
- Optimistic Revenue Forecast: The partnership with Microsoft is projected to generate $1.94 billion in annualized revenue with an 85% project-level EBITDA margin, laying a solid foundation for Iren's future growth.
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