00:04 Julie
Micron is the newest company that benefits from a strong AI question, in which data centers represent 40% of the total turnover of the company in the fourth quarter. This comes after Nvidia and Open AI has opened a $ 100 billion deal to finance data center. Now coming to me is Daniel Roberts, Iren CEO. Iren is a developer, owner and operator of data centers that are powered by 100% renewable energy. Of course you know a lot about what is going on here in this build -out, Daniel.
00:36 Julie
Uh, talk to us a bit about the company and what you see here in the landscape, while we see all this money that is simply developed in a data center.
00:50 Daniel Roberts
Yes, look, Aaron, thank you for having us, Julie. Aaron was founded seven years ago by my brother and I, and our statement was that we were the fourth industrial revolution. We are going to see the digitization of society, the rise of all these high-performance computer applications, and that essentially the legacy data center industry, located in metropolitan areas, was simply not ready to meet the large amounts of electricity and capacity that would require this digitization thematically.
1:23 Julie
Uh, and at the time, you know, generative AI happened not yet seven years ago. So you, like many in this industry, do you still have a bitcoin -mining? I know that was something you were in. We have seen many conversions or additions that are spreading to Gen AI. How did that path work for you all?
1:47 Daniel Roberts
So the same data centers that we built five years ago, UH, to dig Bitcoin, House Nvidia GPUs today. So we never went a crypto path. We built the data centers from the first day to support these applications. And the whole idea was to start the platform with Bitcoin. So we sell the Bitcoin daily, we fell the money, we reinvest it and then go into higher and better use cases over time. We drew a mou with Dell in 2020. It was a bit early. Uh, but then the AI Boom rose a few years ago, we bought some Nvidia chips, and at the moment we are changing racks from Bitcoin -my -bouw ASICs and they replace them with the Nvidia GPUs.
2:37 Julie
Have you seen any question forward? Do you slide? I mean, are you even able to keep up with the capacity, do you know, demands what you are trying to do?
2:50 Daniel Roberts
No, it speeds up. UM and it is a demand ends an supply game. And we are in this happy position where we have already built 800 megawatts of data centers, which we quickly fill with the NVIDIA GPUs and replace this bitcoin -asic's. And the supply side, it is difficult to bring these data centers online. We have built 600 megawatts in 18 months, but the time to make the story is real. The Choke point gets a grid connected strength. And the advantage of a widely connected capacity, because we were talking about off -Aair, is that you are connected to a network where the utility guarantees you 24/7 reliable electricity and Uttime guarantees and reliable GPU services, which requires.
