IREN Limited is expanding its GPU fleet with an additional 4,200 Blackwell B200 GPUs from NVIDIA to be installed at its Prince George campus, bringing its total GPU fleet to approximately 8,500 NVIDIA GPUs. This includes 800 NVIDIA H100s, 1,100 H100s, 5,400 H100s, and 1,200 B300s. The expansion is backed by 50MW of dedicated power, allowing for the hosting of over 20,000 Blackwell GPUs.
As one of the world’s largest Bitcoin miners, IREN Limited reported a 326% year-over-year increase in hashrate growth for the third quarter of fiscal 2025. The company achieved its target of 50 EH/s in installed hashrate in June, generating approximately $830 million in annualized hardware profit. Additionally, AI Cloud services revenue surged 33% year-over-year to $3.6 million during the same quarter.
IREN shares have risen 135.5% year to date, outperforming the broader Zacks Finance sector, which returned 12.5% over the same period. The company has a Zacks Consensus Estimate for 2025 earnings of 14 cents per share, despite reporting a loss of 29 cents per share in the previous year.
