Iris Energy buys 248 Nvidia GPUs worth $10M for generative AI & Bitcoin mining

Nasdaq-listed Iris Energy has bought 248 authorities of the creation Nvidia H100 GPUs for $10 cardinal arsenic it looks to research opportunities successful generative AI successful summation to its halfway concern absorption connected Bitcoin mining.

The steadfast expects to person transportation of the 248 GPUs successful the coming months and plans to deploy the hardware to service opportunities successful unreality computing.

Iris Energy co-founder and co-CEO Daniel Roberts said the institution was looking to leverage its existing information centers into serving generative AI computing requirements.

“We judge request for sustainable computing is improbable to spell away, and consciousness we are uniquely positioned to seizure ongoing maturation successful the broader industry; whether that beryllium ASICs for Bitcoin mining, oregon GPUs for generative AI and beyond.”

Iris Energy operates successful regions that person an abundance of renewable vigor including wind, solar, hydro and has acceptable up its modular information centers adjacent to the root of low-cost excess renewable vigor to beryllium monetized for Bitcoin.

Nvidia's H100 Tensor Core GPU.  Source: Nvidia.com.

According to the Iris Energy website, it has 4 large information halfway mining facilities, including Canal Flats, Mackenzie and Prince George successful Canada’s British Columbia arsenic good arsenic its Childress tract successful Texas.

Related: Tether CTO stays soundless connected Bitcoin mining locations

Renewable-powered Bitcoin mining operations proceed to pull investment, with Genesis Digital Assets Limited opening a caller information centre successful Sweden successful August 2023 that volition run disconnected abundant powerfulness from the nearby Porjus Hydroelectric Power Station.

Meanwhile Blockstream precocious announced its intent to raise up to $50 million in an authoritative concern note to purchase, store and past merchantability BTC mining hardware up of Bitcoin's adjacent halving lawsuit successful 2024. 

GPU hardware shaper Nvidia has besides seen important windfall from the emergence of AI-powered tools and AI computing, with its full marketplace capitalization eclipsing $1 trillion successful May 2023.

Nvidia besides recently teased its next-generation GH200 Grace Hopper Superchip which is touted to beryllium capable to process analyzable generative AI workloads, includling ample connection models, recommender systems and vector databases.

Magazine: Recursive inscriptions: Bitcoin ‘supercomputer’ and BTC DeFi coming soon