1 year ago
On August 29, the publically traded bitcoin mining entity, Iris Energy, revealed its acquisition of 248 Nvidia H100 graphics processing units (GPUs) astatine a outgo of $10 million. While the institution emphasized that its superior absorption remains connected BTC mining, it views generative artificial quality (AI) arsenic an enticing “additional opportunity.”
From Bitcoin Mining ASICs to Nvidia GPUs — Iris Energy Expands to Offer AI Services
As generative AI gained momentum successful the aboriginal 2020s, tech giants specified arsenic Microsoft, Google and Baidu ramped up their investments. However, by 2023, the exertion saw an adjacent much pronounced surge.
Generative AI involves artificial quality (AI) systems that make caller contented — beryllium it text, images oregon video — grounded successful their grooming data. Openai’s Chatgpt, Anthropic’s Claude, on with creation platforms similar Midjourney, pushed the exertion further.
These platforms tin comprehend and respond to a immense array of substance inputs, from elemental queries to analyzable requests. Drawing a parallel to cryptocurrency mining, these AI models encompass billions of parameters, each needing grooming connected expansive datasets.
The enormity of grooming these models demands computational powerfulness that CPUs can’t handle. Therefore, GPUs measurement in, parallelizing computations to supply the indispensable throughput for ample connection models (LLMs).
On Tuesday, Iris Energy, listed connected Nasdaq arsenic IREN, shared that their bitcoin mining efforts volition present besides transmission computational powerfulness toward generative AI. Iris shared that it snapped up 248 Nvidia H100 GPUs for $10 million, eyeing a strategical introduction into the burgeoning industry.
“Leveraging our next-generation information centers into generative AI is an breathtaking opportunity, peculiarly fixed existent manufacture shortages successful rack abstraction and compute,” Daniel Roberts, the co-founder and co-CEO of Iris Energy stated.
Roberts added:
We judge request for sustainable computing is improbable to spell away, and consciousness we are uniquely positioned to seizure ongoing maturation successful the broader industry; whether that beryllium ASICs for bitcoin mining, oregon GPUs for generative AI and beyond.
Iris further mentioned its intentions to showcase its caller abilities to imaginable clients. This announcement comes arsenic Nvidia H100s are reportedly selling similar “hotcakes” this month. Reports person besides highlighted that Nvidia is reaping an astounding 823% nett from H100 sales. While bitcoin mining continues to beryllium their superior focus, Iris views generative AI arsenic an “additional opportunity.”
“Having spent my vocation building, designing, and operating Tier 2-4 information halfway facilities, I judge Iris Energy is uniquely positioned to capitalize connected the generative AI opportunity,” the company’s CTO, Denis Skrinnikoff stated.
What bash you deliberation astir Iris Energy expanding into AI and purchasing 248 Nvidia H100s? Share your thoughts and opinions astir this taxable successful the comments conception below.
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