Bitcoin Miner IREN Surges 11% as It Expands AI Cloud with Nvidia Blackwell Chips
Reuters
Jul 03, 2025
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.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.