Business
Iris Energy Announces Monthly Investor Update for July 2022
Operating capacity doubled to >2.3 EH/s Mackenzie (50MW) commissioned ahead of schedule Miner deliveries during 2022 increased from 4.3 EH/s to 6.0 EH/s
About this update from Iren Limited
[{"type":"text","content":"Operating capacity doubled to >2.3 EH/s Mackenzie (50MW) commissioned ahead of schedule Miner deliveries during 2022 increased from 4.3 EH/s to 6.0 EH/s SYDNEY, Australia, Aug. 09, 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 July 2022, containing its results from operations as well as construction and development updates. Key Highlights1 Key metrics2Jul-22Average operating hashrate (PH/s)1,117Bitcoin mined3154Mining revenue (US$'000)3,358Electricity costs (US$'000)1,360Revenue per Bitcoin (US$)21,823Electricity costs per Bitcoin (US$)8,836 Updates post month end: Commissioned remainder of the first 1.5 EH/s (50MW) at Mackenzie ahead of schedule, approximately doubling operating capacity to exceed 2.3 EH/sReached agreement with Bitmain Technologies Limited to ship an additional 1.7 EH/s of S19j Pro miners in August 2022, increasing expected operating capacity from 4.3 EH/s to 6.0 EH/s Corporate: Welcomed Heather Miller as Vice President – People, Culture and Community and Javier Garcia as General Manager – EngineeringIris Energy to present at the Canaccord Genuity 42nd Annual Growth Conference in Boston Operations: Average operating hashrate of 1,117 PH/sMonthly operating revenue of US$3.4 million154 Bitcoin mined Construction: Mackenzie (2.1 EH/s, 80MW – BC, Canada) Construction activities continue to progress for the expansion from 50MW to 80MW and remains on track to be completed by the end of Q4 2022 Prince George (1.4 EH/s, 50MW – BC, Canada) Construction substantially complete for the first and second data center buildings (20MW and 10MW), with the third data center building (20MW) well advancedInternal fit out of all three data center buildings underwayInstallation of major equipment in the substation has commenced Childress (preparatory construction activities – Texas, USA) Preparatory construction and procurement activities remain ongoing at the 600MW sitePotential development options under consideration, including with respect to the recently announced additional 1.7 EH/s of contracted miners Corporate update Miner deliveries during 2022 increased from 4.3 EH/s to 6.0 EH/s On August 1...