Iris Energy Increases Mining Capacity to 10 EH/s By Investing.com
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Iris Energy (IREN) Increases Mining Capacity to 10 EH/s
Iris Energy Limited (IREN) (together with its subsidiaries, “Iris Energy” or “the Company”), a leading owner and operator of institutional-grade, highly efficient Bitcoin mining data centers powered by 100% renewable energy, today announced the acquisition of 1.6 EH/s of Bitmain T21 miners to increase self-mining capacity to 10 EH/s.
Key Highlights
- 1.6 EH/s acquisition of new-generation Bitmain T21 miners (19 J/TH)
- $14/TH purchase price ($22.3 million)1
- Fulfills the Company’s goal of expanding self-mining capacity to 10 EH/s:
- Current: 5.6 EH/s operating
- Shipping Q1 2024: 1.4 EH/s Bitmain S21 miners
- Shipping Q1 2024: 1.3 EH/s Bitmain T21 miners
- Shipping Q2 2024: 1.6 EH/s Bitmain T21 miners
- 80MW expansion at Childress is on track, supporting the increase in operating hashrate from 5.6 EH/s to 10 EH/s
- Improved overall fleet efficiency from 29.5 J/TH to 24.8 J/TH
Iris Energy is acquiring 8,380 new-generation T21 miners from Bitmain Technologies Delaware Limited for a purchase price of $14/TH ($22.3 million, payable in progressive instalments). Shipping is scheduled for Q2 2024.
The newly acquired S21 and T21 miners, once installed, will improve overall fleet efficiency from 29.5 J/TH to 24.8 J/TH.
The Company’s 80MW data center expansion at Childress remains on track to be progressively delivered from January 2024 through to Q2 2024, supporting the increase in operating hashrate from 5.6 EH/s to 10 EH/s.
Early works and procurement for the next 100MW of data centers at Childress are ongoing, with 500MW of additional power immediately available on site.About Iris Energy
Iris Energy is a sustainable Bitcoin mining company that supports the decarbonization of energy markets and the global Bitcoin network.
- 100% renewables: Iris Energy targets sites with low-cost, under-utilized renewable energy, and supports local communities
- Long-term security over infrastructure, land and power supply: Iris Energy builds, owns and operates its electrical infrastructure and proprietary data centers, providing long-term security and operational control over its assets
- Seasoned management team: Iris Energy’s team has an impressive track record of success across energy, infrastructure, renewables, finance, digital assets and data centers with cumulative experience in delivering >$25bn in energy and infrastructure projects globally
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Iris Energy (IREN) Increases Mining Capacity to 10 EH/s
Iris Energy Limited (IREN) (together with its subsidiaries, “Iris Energy” or “the Company”), a leading owner and operator of institutional-grade, highly efficient Bitcoin mining data centers powered by 100% renewable energy, today announced the acquisition of 1.6 EH/s of Bitmain T21 miners to increase self-mining capacity to 10 EH/s.
Key Highlights
- 1.6 EH/s acquisition of new-generation Bitmain T21 miners (19 J/TH)
- $14/TH purchase price ($22.3 million)1
- Fulfills the Company’s goal of expanding self-mining capacity to 10 EH/s:
- Current: 5.6 EH/s operating
- Shipping Q1 2024: 1.4 EH/s Bitmain S21 miners
- Shipping Q1 2024: 1.3 EH/s Bitmain T21 miners
- Shipping Q2 2024: 1.6 EH/s Bitmain T21 miners
- 80MW expansion at Childress is on track, supporting the increase in operating hashrate from 5.6 EH/s to 10 EH/s
- Improved overall fleet efficiency from 29.5 J/TH to 24.8 J/TH
Iris Energy is acquiring 8,380 new-generation T21 miners from Bitmain Technologies Delaware Limited for a purchase price of $14/TH ($22.3 million, payable in progressive instalments). Shipping is scheduled for Q2 2024.
The newly acquired S21 and T21 miners, once installed, will improve overall fleet efficiency from 29.5 J/TH to 24.8 J/TH.
The Company’s 80MW data center expansion at Childress remains on track to be progressively delivered from January 2024 through to Q2 2024, supporting the increase in operating hashrate from 5.6 EH/s to 10 EH/s.
Early works and procurement for the next 100MW of data centers at Childress are ongoing, with 500MW of additional power immediately available on site.About Iris Energy
Iris Energy is a sustainable Bitcoin mining company that supports the decarbonization of energy markets and the global Bitcoin network.
- 100% renewables: Iris Energy targets sites with low-cost, under-utilized renewable energy, and supports local communities
- Long-term security over infrastructure, land and power supply: Iris Energy builds, owns and operates its electrical infrastructure and proprietary data centers, providing long-term security and operational control over its assets
- Seasoned management team: Iris Energy’s team has an impressive track record of success across energy, infrastructure, renewables, finance, digital assets and data centers with cumulative experience in delivering >$25bn in energy and infrastructure projects globally
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