Iren Ltd.
IREN Limited Expands AI Cloud with Acquisition of 2.4k Next-Generation GPUs
Summary
On July 3, 2025, IREN Limited announced the purchase of 2.4k next-generation NVIDIA Blackwell B200 and B300 GPUs for approximately $130 million, funded by existing cash. This expansion, to be installed at the company's Prince George, BC campus, will increase IREN's total GPU fleet to approximately 4.3k, enhancing its AI Cloud Services and positioning it to meet growing demand from AI-native enterprises and cloud operators. A press release with further details is furnished as Exhibit 99.1.
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Exhibits (1)
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About Iren Ltd.
Iren Ltd. is an energy company primarily engaged in the generation, distribution, and sale of electricity, heat, and gas throughout Italy. The company plays a crucial role in providing essential energy services to residential, commercial, and industrial sectors. It is a key player in the Italian energy market with a diverse portfolio that includes renewable energy sources, thus contributing to the country’s energy transition and sustainability goals. Iren Ltd. also actively participates in the development and management of integrated water services and environmental services, offering solutions for waste collection, treatment, and disposal. With its strategic focus on innovation and energy efficiency, the company is dedicated to enhancing its infrastructure and service quality. Iren Ltd.'s initiatives in smart city solutions and district heating projects further underscore its commitment to technological advancement and environmental sustainability. As an integral part of the Italian utility sector, Iren Ltd. works to balance energy demand with ecological responsibility, supporting the modernization of urban areas and contributing to the overall stability and development of the regional energy landscape.
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