Iris Power has invested $10 million within the newest era of Nvidia GPUs to discover generative AI whereas it continues to give attention to Bitcoin mining.
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Nasdaq-listed Iris Power has purchased 248 state-of-the-art Nvidia H100 GPUs for $10 million because it appears to discover alternatives in generative synthetic intelligence (AI) along with its core enterprise give attention to Bitcoin (BTC) mining.
The agency expects to obtain supply of the 248 GPUs within the coming months and plans to deploy the {hardware} to serve alternatives in cloud computing.
Iris Power co-founder and co-CEO Daniel Roberts stated the corporate was trying to leverage its current knowledge facilities into serving generative AI computing necessities:
“We consider demand for sustainable computing is unlikely to go away, and really feel we’re uniquely positioned to seize ongoing progress within the broader business; whether or not that be ASICs for Bitcoin mining, or GPUs for generative AI and past.”
Iris Power operates in areas which have an abundance of renewable vitality — together with wind, photo voltaic and hydro — and has arrange its modular knowledge facilities close by to the supply of low-cost extra renewable vitality to be monetized for Bitcoin.
In line with Iris Power’s web site, it has 4 main knowledge middle mining amenities, together with Canal Flats, Mackenzie and Prince George in Canada’s British Columbia in addition to its Childress website in Texas.
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Renewable-powered Bitcoin mining operations proceed to draw funding, with Genesis Digital Property Restricted opening a brand new knowledge middle in Sweden in August 2023 that may function off considerable energy from the close by Porjus Hydroelectric Energy Station.
In the meantime, Blockstream lately introduced its intent to lift as much as $50 million in an official funding word to buy, retailer after which promote BTC mining {hardware} forward of Bitcoin’s subsequent halving occasion in 2024.
GPU {hardware} producer Nvidia has additionally seen important windfall from the rise of AI-powered instruments and AI computing, with its whole market capitalization eclipsing $1 trillion in Might 2023.
Nvidia additionally lately teased its next-generation GH200 Grace Hopper Superchip, which is touted to have the ability to course of complicated generative AI workloads, together with giant language fashions, recommender techniques and vector databases.
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