Business
Iris Energy Announces Monthly Investor Update for March 2023
Operating capacity increased by 79% to 3.1 EH/s Ramp up on track to 5.5 EH/s 600MW Childress substation nearing energization SYDNEY, Australia, April 06, 2023
About this update from Iren Limited
[{"type":"text","content":"Operating capacity increased by 79% to 3.1 EH/s Ramp up on track to 5.5 EH/s 600MW Childress substation nearing energization SYDNEY, Australia, April 06, 2023 (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 March 2023, containing its results from operations as well as business updates. Key Highlights1 Key metrics2Mar-23Average operating hashrate (PH/s)1,912Bitcoin mined173Mining revenue (US$’000)4,324Electricity costs (US$’000)2,172Revenue per Bitcoin (US$)25,030Electricity costs per Bitcoin (US$)12,570 (11,533 adj)3 Corporate: Increased operating hashrate by 79% to 3.1 EH/s (as at April 5)Near-term ramp up to 5.5 EH/s355,461 ordinary shares acquired by a director, Mr. Michael AlfredExecutive leadership appointments – Chief Commercial Officer and Head of Capital Markets Operations (for the month of March 2023): Average operating hashrate of 1,912 PH/s (+11% vs. February)Monthly operating revenue of US$4.3 million (+22% vs. February)173 Bitcoin mined (+11% vs. February) Construction: Childress (20MW – Texas, USA) 600MW bulk power substation at Childress nearing energizationCommissioning of the first 20MW data center (supporting ~0.6 EH/s) expected to commence in the coming weeksPlanning underway to utilize additional power on site (up to 580MW) Corporate update Operating capacity increased by 79% to 3.1 EH/sIris Energy is pleased to advise that it has increased its operating hashrate from 1.7 EH/s4 to a current level of 3.1 EH/s (as part of the Company’s recently announced increase in self-mining capacity to 5.5 EH/s). An additional 2.0 EH/s of miners have been delivered and are pending installation, while the remaining 0.4 EH/s of miners are in transit and scheduled to be delivered imminently. 160MW of data centers (supporting ~4.9 EH/s) is available immediately, with commissioning of the first 20MW at Childress (supporting the remaining ~0.6 EH/s) expected to commence in the coming weeks. Share acquisition by directorThe Company advises that between March 13, 2023, and April 5, 2023, an entity affiliated with Mr. Michael Alfred, a director on the Company's Board of Directors, acquired 355,461 ordi...