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Iris Energy Expands Partnership with poolside for AI Cloud Services

Iris Energy Limited (NASDAQ: IREN), a leading next-generation data center business, has announced the expansion of its partnership with poolside, a leading AI company, for AI cloud services. As part of the agreement, Iris Energy will provide an upsized cluster of 504 NVIDIA H100 GPUs, doubling the original contracted size.The initial deployment of the AI cloud services agreement with poolside was successful, prompting the increase in cluster size. The contract will now run for an additional 4-month term from mid-April 2024, with an extension option for another 2 months.Commenting on the partnership, Eiso Kant, CTO and Co-Founder of poolside, expressed their satisfaction with Iris Energy’s GPU cluster, citing its reliability and performance as top-notch. They also praised Iris Energy’s commitment to customer support. Kant emphasized the growing demand for GPU compute in their business and expressed delight in expanding their partnership with Iris Energy to support their growth.Daniel Roberts, Co-Founder and Co-CEO of Iris Energy, highlighted the expansion of the partnership as a testament to the quality of their AI Cloud Services business. He emphasized the performance-focused technology stack utilized by Iris Energy for AI and their commitment to powering data centers with renewable energy.Iris Energy is a leading data center business focused on powering the future of Bitcoin and AI through the utilization of 100% renewable energy. Their operations include Bitcoin mining, AI cloud services, and the development of next-generation data centers.Bitcoin Mining, one of Iris Energy’s core services, provides security to the Bitcoin network. With operations since 2019, Iris Energy aims to expand its mining capacity to 20 EH/s in 2024.AI Cloud Services offered by Iris Energy cater to AI customers, providing cloud compute capabilities with 816 NVIDIA H100 GPUs. This service has been operational since 2024 and is characterized by a performance-focused technology stack.Iris Energy also specializes in the development and operation of next-generation data centers. They currently operate 220MW of data centers and have plans to expand to 460MW by 2024. These data centers are specifically designed and built to support high-performance and power-dense computing applications.In addition to their core services, Iris Energy emphasizes the importance of technology optimization for AI Cloud Services, Bitcoin Mining, and energy trading operations. This technology stack ensures maximum performance and efficiency.With a robust development portfolio, Iris Energy has secured 2,160MW of power capacity across North America. They also possess a significant property portfolio and have additional development projects in the pipeline.As a company committed to renewable energy, Iris Energy sources clean and renewable energy for its operations. They aim to target sites with low-cost and underutilized renewable energy sources, thereby supporting electrical grids and local communities.For media inquiries, please contact Kent Draper at +1 646 680-9026 For investor inquiries, please reach out to Belinda Nucifora at +44 7376 052108