Bitcoin News Today: *Digital Shovel Powers IREN’s AI Leap with Record-Speed Infrastructure Delivery*

Digital Shovel, a leading innovator in crypto mining infrastructure solutions, has completed a significant milestone in its collaboration with IREN, formerly known as Iris Energy Limited. This partnership, which began in February 2024, has resulted in the delivery of 493 MW of busway sets—both active units and spares—to support the operation of IREN’s expanding data centers. These data centers are optimized for Bitcoin mining and AI cloud services and are powered entirely by renewable energy. The project was completed ahead of schedule and without major delays, enabling IREN to accelerate its operational timeline [1].

The successful delivery of busway systems highlights the strong collaboration between the two companies and underscores Digital Shovel’s ability to execute large-scale infrastructure projects efficiently. According to Scot Johnson, CEO of Digital Shovel, the early completion is a testament to the team's dedication and the effectiveness of their innovative solutions. Johnson emphasized the alignment of both companies' visions for sustainable, high-performance data centers, which is expected to support IREN's growth and Digital Shovel’s expanding market presence [1].

The partnership also positions the companies for future opportunities as the demand for infrastructure solutions continues to rise. Digital Shovel has demonstrated a proven capacity to deliver at scale and speed, which is expected to help power the next generation of energy-efficient data centers across North America. The early completion of the contract has provided IREN with the flexibility to pursue new ventures, including the expansion of its AI cloud services and further optimization of its existing facilities [1].

In a related development, IREN has continued its expansion into AI cloud services, recently acquiring an additional 4,200 Nvidia Blackwell B200 GPUs. This purchase brings the total GPU count at its Prince George facility in British Columbia to 8,500, including a mix of H100, H200, B200, and B300 models. IREN now expects its mining capacity to reach approximately 50 EH/s, with the Prince George site hosting a 50MW power capacity capable of supporting around 20,000 Blackwell GPUs [2].

To finance the new GPU purchases, IREN has secured a 36-month lease for 100% of the purchase price, with payments based on a “high single-digit interest rate.” This non-dilutive capital solution allows IREN to scale its AI cloud business while maintaining financial flexibility. The company’s AI cloud expansion is a key component of its strategic pivot, which includes a shift in focus away from Bitcoin mining toward AI-related services. While IREN continues to operate its Bitcoin mining activities, it has begun to redirect its resources and capital to its AI business, a move that aligns with broader market trends [2].

The strategic shift has already had a significant impact on IREN’s financial performance. Since April of this year, the company’s stock price has surged by 304%, reversing a 62% decline recorded in 2024. This growth is largely attributed to IREN’s aggressive investments in high-end GPUs and its pivot toward AI services. The company currently operates six data centers across North America, with a combined capacity of 2,910MW, further reinforcing its position as a leader in sustainable, high-performance data center solutions [2].

Source:

[1] Digital Shovel Announces Successful Partnership with IREN, Culminating in the Completion of Infrastructure Support to 26 Sites (https://gritdaily.com/press-release/digital-shovel-announces-successful-partnership-with-iren-culminating-in-the-completion-of-infrastructure-support-to-26-sites/)

[2] IREN Doubles GPU Fleet as AI Cloud Expansion Continues (https://www.datacenterdynamics.com/en/news/iren-doubles-gpu-fleet-as-ai-cloud-expansion-continues/)