Business
Iris Energy Announces Monthly Investor Update for November 2023
Expansion on track to 10 EH/sNew 1,400MW data center development site in West Texas SYDNEY, Australia, Dec. 06, 2023 (GLOBE NEWSWIRE) -- Iris Energy Limited
About this update from Iren Limited
[{"type":"text","content":"Expansion on track to 10 EH/sNew 1,400MW data center development site in West Texas SYDNEY, Australia, Dec. 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 November 2023, containing its results from operations as well as business updates. Key Highlights1 Key metrics2Nov-23Average operating hashrate (PH/s)5,551Bitcoin mined369Mining revenue (US$’000)13,714Electricity costs (US$’000)35,730Revenue per Bitcoin (US$)37,155Electricity costs per Bitcoin (US$)15,524 Expansion on track to 10 EH/s4 Acquired 1.3 EH/s of new-generation Bitmain T21 miners (19 J/TH) $14/TH5 purchase price, with 20% deferredImproves overall fleet efficiency to 25.8 J/TH Self-mining capacity expanded to 8.3 EH/s 5.6 EH/s operating1.4 EH/s Bitmain S21 miners (Q1 2024)1.3 EH/s Bitmain T21 miners (Q1 2024) Investor update conference call Cloud and colocation customer conversations underwayNew 1,400MW data center development site in West Texas (late 2026 expected in-service date) Childress construction (Phase 1, first 100MW) DC 2: racking and electrical installation ongoingDC 3: structure complete; racking and electrical installation commencedDC 4: concrete foundations complete; building structure commencedDC 5: concrete foundations commenced Corporate update Expansion on track to 10 EH/s On November 30, 2023, the Company announced the acquisition of 1.3 EH/s of new-generation Bitmain T21 miners for $14/TH5 ($18.6 million), of which 20% is deferred. The Company’s 80MW data center expansion at Childress remains on track to be progressively delivered from January 2024 through to Q2 2024, supporting an increase in total Company operating capacity to 10 EH/s4. The newly acquired S21 (17.5 J/TH) and T21 (19 J/TH) miners are scheduled to be shipped during Q1 2024 and, once installed, will: Increase operating hashrate by 48% from 5.6 EH/s to 8.3 EH/sImprove overall fleet efficiency from 29.5 J/TH to 25.8 J/TH The update can be accessed via the following link. Investor update conference call On November 21, 2023, the Company hosted an investor update conference call. The key updates included: Cloud and colocation: customer conversati...