IP info is usually invoked from Special:Contributions and it can be used on IP addresses and Temporary accounts. Unfortunately, Temporary accounts can have more than one IP address attached. In addition to that, information displayed by IP Info are directly tied to a particular IP address and they cannot be easily transferred to other IP addresses (even if they are used by the same user).
When the IP info tool is used on a temporary account, it prints a bunch of information at the account level, creating the impression that they apply for the Temporary account as a while. In reality, they only apply to an arbitrary IP the Temporary account used in the past.
An example of this is https://test.wikipedia.org/wiki/Special:Contributions/~2024-15626, where I made 4 edits from 3 separate IP addresses. On that account, IP info looks like this:
In this case, all 3 IPs I used indeed geolocate to Prague. However, only some of them belong to the CESNET organisation. In this case, the IPv6 is the only address that does not belong to CESNET (despite IP Info claiming the opposite).