Blue Owl Leads $2.4 Billion GPU Financing for IREN

Aug 29, 2026
Blue Owl managed funds led a $2.4 billion financing package for IREN to buy NVIDIA Blackwell Ultra GPUs for its Mackenzie data center campus in British Columbia.

Blue Owl Capital funds led a $2.4 billion compute equipment financing for IREN, the companies announced in a press release.

The financing includes a $1.2 billion senior secured term loan and $1.2 billion in senior secured notes. IREN will use the proceeds to buy air cooled NVIDIA accelerated computing infrastructure, including NVIDIA Blackwell Ultra GPUs, for its Mackenzie data center campus in British Columbia, Canada.

The facility is structured to fund equipment purchases in tranches during a defined draw period. IREN said the structure lets capital be deployed as hardware is delivered and commissioned.

IREN said the transaction supports the continued buildout of its AI Cloud infrastructure. The company said its global data center development pipeline exceeds 5 GW.

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