Bitcoin Miner Iris Energy Inks AI Cloud Services Deal With Poolside AI

Bitcoin mining company Iris Energy, which is listed on Nasdaq, has announced a partnership with artificial intelligence (AI) startup Poolside AI. This collaboration comes after Iris purchased 248 Nvidia H100 graphics processing units (GPUs) for $10 million in August 2023. Iris Energy and Poolside AI will be working together on a cloud service project, with an initial agreement for three months and the possibility of extending it. The cloud service was launched on February 5, 2024, after meeting Poolside AI’s stringent testing criteria. Other bitcoin mining players, such as Tether, Northern Data, and Bitdeer, are also investing in Nvidia GPUs for AI-related ventures. The CEO of Iris Energy expressed the company’s enthusiasm for expanding its cloud services division, and the stock price rose by 13% following the announcement.