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

Nasdaq-listed Iris Energy has bought 248 state-of-the-art Nvidia H100 GPUs for $10 million as it looks to check out opportunities in generative synthetic intelligence (AI) in addition to its core service focus on Bitcoin (BTC) mining.The company anticipates to receive delivery of the 248 GPUs in the coming months and plans to deploy the hardware to serve chances in cloud computing. Iris Energy co-founder and co-CEO Daniel Roberts stated the company was looking to utilize its existing data centers into serving generative AI computing requirements:” We believe demand for sustainable computing is unlikely to go away, and feel we are uniquely placed to catch ongoing growth in the broader market; whether that be ASICs for Bitcoin mining, or GPUs for generative AI and beyond.” Iris Energy operates in areas that have an abundance of sustainable energy– including wind, solar and hydro– and has set up its modular information centers nearby to the source of low-priced excess renewable energy to be monetized for Bitcoin.Nvidias H100 Tensor Core GPU.