IREN secures Nvidia preferred partner status, procures $168M in GPUs

IREN (IREN) announced it has secured Nvidia (NVDA) preferred partner status and procured an additional 1.2k air-cooled Nvidia B300s and 1.2k liquid-cooled Nvidia GB300s for approximately $168M, expanding its total GPU fleet to 10.9k Nvidia GPUs. IREN has secured approximately $96M in financing to support the purchase of the GB300s. The financing is structured as a 24-month lease and represents 100% of the purchase price, with lease payments calculated utilizing a high single digit interest rate. The B300 GPUs are funded from existing cash, with further financing workstreams underway. The GPUs will be installed over the coming months at IREN’s Prince George campus, where construction is underway on a 10MW liquid-cooled installation capable of supporting more than 4.5k GB300s.