This crypto miner is capitalizing on AI data center energy demands
00:04 Julie
Micron is the last company to benefit from strong AI demand, and data centers represent 40% of the total income of the company in the fourth quarter. This comes after Nvidia and AI AI signed an agreement of $ 100 billion to provide funds for the data center construction. Now join me, Iren CEO Daniel Roberts. IREN is the developer, owner and operator of 100% renewable energy data centers. Obviously, you know a lot about what happened here in this structure, Daniel.
00:36 Julie
UM, talk to us a little bit about what you see throughout the landscape, because we see that all this money is poured into the data center.
00:50 Daniel Roberts
Yeah, look Aaron, thank you for having us Julie. Aaron was founded by my brother and me seven years ago, and our thesis was the fourth industrial revolution. We will see the digitalization of the society, the emergence of all these high -performance information processing practices, and the old Data Center Industry, which is essentially in the metropolitan areas, was not aimed at meeting large amounts of power and capacity that this digitization theme required.
1:23 Julie
Um, and then, you know, the productive AI had not yet happened seven years ago. So, like many people in this business, there is some kind, still do you have Bitcoin mining? I know it’s something you are in. We have seen many transformations or additions expanding to Gen Ai. How did this road work for all of you?
1:47 Daniel Roberts
The same data centers that we built five years ago, UH, today to Bitcoin, the Nvidia GPUs house. So we never fell into a crypto path. We have created data centers from the first day that can support these applications. And the whole idea was to put forward the platform using Bitcoin. That’s why we sell Bitcoin daily, we consume the money, we re -invest it, and as we emerge, we make layer in higher and better use. In 2020, we signed a agreement with Dell. It was a little early. UH, but then we set out a few years ago, we’ve got some nvidia chips, and now we’re changing the shelves of Bitcoin mining ASICs and change them with Nvidia GPUs.
2:37 Julie
Have you seen any mitigation in the request? Is there any slowdown? I mean, you know, do you demand what you’re trying to do?
2:50 Daniel Roberts
No, it’s accelerating. UM and this is a demand for the end of a supply game. And we are in this lucky position where we are quickly filled with NVIDIA GPUs and where this Bitcoin mining is replaced by Asics, where we have already built 800 megawatt data centers. And the supply side is difficult to bring these data centers online. We built 600 megawatts in 18 months, but time to strengthen the narrative is real. The jikle point gets a grid -linked power. And because the benefit of the network connected to the network is to connect to a network where the assistant program guarantees 7/24 reliable power and creates working time guarantees and reliable GPU services.
