Iren Boosts GPU Fleet by 50% with 50,000 Nvidia Chip Purchase
Iren agreed to purchase over 50,000 Nvidia GPUs, expanding its chip fleet by more than 50%. Iren shares found support at their 200-day moving average as bulls stepped in to defend long-term technical levels.
1. GPU Purchase Agreement
Iren entered into a purchase agreement for more than 50,000 additional Nvidia GPUs, boosting its chip fleet by over 50%. This deal underscores the company’s commitment to scaling high-performance computing and AI infrastructure, positioning it for accelerated workload capacity and potential revenue gains.
2. Technical Level Defense
Iren shares found support at the 200-day moving average as market bulls stepped in on heavy turnover. The defense of this key long-term technical indicator suggests renewed investor confidence in the company’s growth trajectory following recent market volatility.