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Iris Energy Announces Monthly Investor Update for August 2022
Prince George on track for September 2022, increasing capacity to 3.7 EH/s Guidance by the end of Q4 2022 increased from 4.3 EH/s to 4.7 EH/s Deployment
About this update from Iren Limited
[{"type":"text","content":"Prince George on track for September 2022, increasing capacity to 3.7 EH/s Guidance by the end of Q4 2022 increased from 4.3 EH/s to 4.7 EH/s Deployment pathway to 6.0 EH/s SYDNEY, Australia, Sept. 07, 2022 (GLOBE NEWSWIRE) -- Iris Energy Limited (NASDAQ: IREN) (“Iris Energy” or “the Company”), a leading owner and operator of institutional-grade, highly efficient proprietary Bitcoin mining data centers powered by 100% renewable energy, today published a monthly investor update for August 2022, containing its results from operations as well as construction and development updates. Key Highlights1 Key metricsAug-22Average operating hashrate (PH/s)2,204Bitcoin mined2301Mining revenue (US$'000)6,629Electricity costs (US$'000)2,436Revenue per Bitcoin (US$)22,027Electricity costs per Bitcoin (US$)8,094 Corporate: Prince George (50MW) on track for energization in September 2022, increasing total expected Company operating capacity to 3.7 EH/sCompany operating capacity guidance increased from 4.3 EH/s to 4.7 EH/s by the end of Q4 2022Company to publish its financial results for the full year ended June 30, 2022 on Tuesday, September 13, 2022 Eastern Time (conference call to be hosted at 5:00 p.m. USA Eastern Time) Operations: Average operating hashrate of 2,204 PH/s (+97% vs. July)Monthly operating revenue of US$6.6 million (+97% vs. July)301 Bitcoin mined (+96% vs. July) Construction: Mackenzie (2.5 EH/s, 80MW – BC, Canada) Construction activities continue to progress for expansion from 50MW to 80MW and remains on track to be completed by the end of Q4 2022Expected site operating capacity increased from 2.1 EH/s to 2.5 EH/s by the end of Q4 2022 Prince George (1.4 EH/s, 50MW – BC, Canada) Commissioning activities underway, with major equipment installation in the substation close to completeConstruction of all three data center buildings completeInternal fit out for the first and third data center buildings (20MW each) complete and well progressed for the second data center building (10MW)Construction of the high voltage connection to the BC Hydro transmission network complete Childress (1.3 EH/s, 40MW – Texas, USA) An initial 40MW development is planned at the 600MW siteEarthworks have commenced for the substation area, the first data center building (20MW) area and internal road network Corporate update Updated operating guidance As ...