Bitcoin miner IREN shares rose more than 11% after announcing purchase of 2,400 next-generation Nvidia Blackwell B200 and B300 GPUs worth $130 mln.

The Australia-based co says acquisition is fully funded from existing cash. Co expects the investment to deliver attractive risk-adjusted returns and support discussions around its AI Data Center business. IREN is evaluating financing alternatives to support AI cloud services growth.

Earlier in the month, co closed $500 mln convertible notes offering, intending to use net proceeds to pay for capped calls, derivative transactions to offset dilution and general purposes.