Iris Energy, a Nasdaq-listed and sustainable Bitcoin mining platform, bought 248 state-of-the-art Nvidia H100 GPUs for about $10 million. It is believed that they are exploring opportunities in generative artificial intelligence (AI) in addition to its focus on Bitcoin (BTC $27,460) mining, stated Cointelegraph.
Sources revealed that the firm expects to get the rest of the 248 GPUs in the coming months. It is expected that Iris Energy also plans to include hardware to serve opportunities in cloud computing, Cointelegraph added.
“We believe demand for sustainable computing is unlikely to go away, and feel we are uniquely positioned to capture ongoing growth in the broader industry; whether that be ASICs for Bitcoin mining, or GPUs for generative AI and beyond,” Daniel Roberts, co-founder, co-CEO, Iris Energy, told Cointelegraph.
Furthermore, Iris Energy is expected to operate in regions that have renewable energy sources such as wind, solar and hydro, among others, Cointelegraph concluded.
(With insights from Cointelegraph)