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Iris Energy Commences 5.5 EH/s Installation and Confirms No Deposits with Silicon Valley Bank, Silvergate Capital, or Signature Bank
Iris Energy commences 5.5 EH/s installation Remaining miner deliveries expected by end of March No deposits with Silicon Valley Bank, Silvergate Capital or
About this update from Iren Limited
[{"type":"text","content":"Iris Energy commences 5.5 EH/s installation Remaining miner deliveries expected by end of March No deposits with Silicon Valley Bank, Silvergate Capital or Signature Bank SYDNEY, Australia, March 13, 2023 (GLOBE NEWSWIRE) -- Iris Energy Limited (NASDAQ: IREN) (together with its subsidiaries, “Iris Energy”, “the Company” or “the Group”), a leading owner and operator of institutional-grade, highly efficient Bitcoin mining data centers powered by 100% renewable energy, today announced it has commenced taking delivery of, and installing, miners in respect of its ramp up to 5.5 EH/s of operating capacity, and also confirmed it does not hold deposits with Silicon Valley Bank, Silvergate Capital or Signature Bank. Commencement of 5.5 EH/s installation Further to the Company’s announcement on February 13, 2023 that it is increasing its self-mining operating capacity to 5.5 EH/s, the Company is pleased to advise that it has commenced taking delivery of, and installing, the newly acquired miners. Delivery of the remaining miners is expected by the end of March, with the majority of these miners expected to be operational shortly thereafter. 160MW of data center infrastructure (supporting ~4.9 EH/s) is available immediately, with commissioning of the first 20MW at Childress (supporting the remaining ~0.6 EH/s) expected in the coming months. No deposits with Silicon Valley Bank, Silvergate Capital or Signature Bank In respect of recent market events, in particular developments in relation to Silicon Valley Bank, Silvergate Capital and Signature Bank, the Company confirms it does not hold deposits or securities or maintain any accounts with any of these entities. 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 markets with low-cost, under-utilized renewable energy, and where the Company can support local communitiesLong-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 assetsSeasoned management team: Iris Energy’s team has an impressive track record of success across energy, infrastructure, renewables, finance, digital assets and data c...