This cryptographic miner is capitalizing the energy demands of the AI ​​data center

00:04 Julie

Micron is the last company to benefit from a strong demand for AI, with data centers that represent 40% of the company’s total income in the fourth quarter. This occurs after Nvidia and Open AI signed a $ 100 billion agreement to help finance the construction of the data center. Joining me now is Daniel Roberts, CEO of Iren. Iren is a developer, owner and operator of data centers that drive 100% renewable energy. Obviously, you know a lot about what is happening here in this construction that is happening, Daniel.

00:36 Julie

Um, talk to us a little about the company and what you are seeing in the landscape here, since we see that all this money is spilling in the data center.

00:50 Daniel Roberts

Yes, look, Aaron, thanks for having us, Julie. Aaron was founded seven years ago by my brother and I, and our thesis was that we were the fourth industrial revolution. We will see the digitalization of society, the appearance of all these high performance computer applications, and that essentially the industry of the inherited data centers, located in metropolitan areas, was not prepared to satisfy the large amounts of power and capacity that this digitalization would require.

1:23 Julie

Um, and at that time, you know, the generative AI was not yet happening seven years ago. So, like many in this business, do you still have any Bitcoin mining? I know it was something you were in. We have seen many conversions or additions expanding in Gen AI. How was that path worked for all of you?

1:47 Daniel Roberts

Then, the same data centers that we built five years ago, UH, to extract Bitcoin, House Nvidia Gpu today. So we never go down a cryptographic path. We build the data centers from the first day capable of supporting these applications. And the whole idea was to start the platform using bitcoin. So we sell the bitcoin daily, we bless the cash, reinvirt that and then place in higher and better use cases with time as they emerge. We signed a Mou with Dell in 2020. It was a bit early. Uh, but then the IA boom took off a couple of years ago, we bought some Nvidia chips, and at this time, we are quickly exchanging Bitcoin Mining Asics shelves and replacing them with the NVIDIA GPUs.

2:37 Julie

Have you seen any mitigation in demand? Any deceleration? I mean, can they even keep up with the capacity, you know, demands about what you are trying to do?

2:50 Daniel Roberts

No, it is accelerating. UM and it is a lawsuit ends a supply game. And we are in this lucky position in which we already have 800 megawatts of already built data centers, which we are rapidly filling with the NVIDIA GPUs and replacing these Bitcoins Mining ASIC. And the offer side, it is difficult to put these data centers online. We build 600 megawatts in 18 months, but the time to enhance the narrative is real. The strangulation point is to obtain energy connected to the grid. And the benefit of the power connected to the network, since we were speaking out of the air, is that it is connected to a network where the utility guarantees a reliable power 24/7 and to be able to build guarantees of time of meaning and reliable services of GPUs require it.