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Iris Energy Increases 2022 Miner Deliveries From 4.3 EH/s to 6.0 EH/s
SYDNEY, Australia, Aug. 01, 2022 (GLOBE NEWSWIRE) -- Iris Energy Limited (NASDAQ: IREN) (“Iris Energy” or “the Company”), a leading owner and operator of
About this update from Iren Limited
[{"type":"text","content":"SYDNEY, Australia, Aug. 01, 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 announced that it had reached agreement with Bitmain Technologies Limited (“Bitmain”) to ship an additional 1.7 EH/s of contracted S19j Pro miners in August 2022. This increases the Company’s expected total operating capacity from 4.3 EH/s to 6.0 EH/s. The Company is currently working through deployment options across its sites, including the Childress project in Texas, USA, for the additional capacity. As previously announced, the Company has made $130 million of payments in respect of contracted miners above the initial 4.3 EH/s of operating capacity. $46.7 million of these previous payments, along with an additional payment of $5.9 million of cash on hand, have been utilized as payment for this additional 1.7 EH/s of contracted miners. As a result, the Company has $83.3 million of remaining payments in respect of additional contracted miners above the 6.0 EH/s of capacity, which remain subject to ongoing discussions with Bitmain1. About Iris Energy Iris Energy is a sustainable Bitcoin mining company that supports the decarbonization of energy markets and the global Bitcoin network. Focus on low-cost renewables: Iris Energy targets markets with low-cost, excess and/or 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 centers with cumulative experience in delivering >$25bn in energy and infrastructure projects globally Forward-Looking Statements This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or Iris Energy’s future financial or operating performance. For example, forward-looking statements include b...