Brett Knoblauch's questions to IREN (IREN) leadership • FY 2025
Question
Brett Knoblauch questioned whether IREN's strategy is to secure customers before purchasing GPUs or to buy them speculatively. He also requested a metric for the power consumption per B200 GPU, similar to the one provided for the GB300.
Answer
Co-CEO Daniel Roberts explained that due to immediate customer demand for compute, the company orders hardware ahead of securing contracts, a strategy validated by the rapid uptake of newly commissioned capacity. Chief Commercial Officer Kent Draper addressed the power question by providing examples: the 50MW Prince George site can accommodate over 20,000 air-cooled B200s, while the 50MW Horizon 1 site fits about 19,000 liquid-cooled GB300s, illustrating the increasing power density of newer GPUs.