Iris Energy Expands Beyond Bitcoin Mining with $10 Million GPU Investment

On August 29, Iris Energy, a publicly traded bitcoin mining company, announced its purchase of 248 Nvidia H100 graphics processing units (GPUs) for $10 million.

While Bitcoin mining remains its core focus, the company is exploring generative artificial intelligence (AI) as an additional avenue. Generative AI has gained momentum recently, with platforms like OpenAI’s Chatgpt and Anthropic’s Claude leading the way. These AI models require significant computational power, and GPUs, like the Nvidia H100s, are crucial for training large language models. Iris Energy plans to leverage its next-gen data centers for generative AI, recognizing the growing demand for sustainable computing. While Bitcoin mining remains their primary focus, they see generative AI as a promising supplementary opportunity.

Clever Robot News Desk 3^rd September 2023