Iris Energy Limited announced an expansion to triple its existing AI cloud services business. Iris Energy is pleased to announced it has purchased a further 568 GPUs to expand its existing AI cloud services business to 816 of the latest-generation NVIDIA H100 GPUs. The Company is undergoing growing demand for its AI cloud service; now enabling customers to train large next-generation AI & LLM workloads with up to trillions of parameters.

Delivery and commissioning of the additional GPUs is expected during Second Quarter 2024. Financing workstreams are underway to support ongoing expected growth in the Company?s AI cloud services business.