IREN plans phased deployment of over 50,000 Nvidia B300 GPUs across British Columbia and Texas data centers, aiming to boost AI cloud capacity and support projected $3.7 billion in annualized revenue.
IREN has agreed to acquire more than 50,000 Nvidia B300 GPUs, increasing its total AI compute fleet to approximately 150,000 units. Deployment across its Mackenzie, BC, and Childress, TX data centers is expected in the second half of 2026. The company filed for a potential $6 billion at-the-market equity offering, resulting in a 5% pre-market share drop. IREN anticipates the expanded fleet will support over $3.7 billion in annualized AI cloud revenue, leveraging $9.3 billion previously secured through prepayments, convertible notes, and GPU financing.