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Iris Energy Increases Mining Capacity to 8.3 EH/s
Expansion on track to 10 EH/s SYDNEY, Australia, Nov. 30, 2023 (GLOBE NEWSWIRE) -- Iris Energy Limited (NASDAQ: IREN) (together with its subsidiaries, “Iris
About this update from Iren Limited
[{"type":"text","content":"Expansion on track to 10 EH/s SYDNEY, Australia, Nov. 30, 2023 (GLOBE NEWSWIRE) -- Iris Energy Limited (NASDAQ: IREN) (together with its subsidiaries, “Iris Energy” or “the Company”), a leading owner and operator of institutional-grade, highly efficient Bitcoin mining data centers powered by 100% renewable energy, today announced the acquisition of 1.3 EH/s of Bitmain T21 miners to increase self-mining capacity to 8.3 EH/s. Key Highlights 1.3 EH/s acquisition of new-generation Bitmain T21 miners (19 J/TH)Improves overall fleet efficiency to 25.8 J/TH$14/TH purchase price ($18.6 million), with 20% deferredSelf-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) Expansion on track to 10 EH/s Iris Energy is acquiring 7,000 new-generation T21 miners from Bitmain Technologies Delaware Limited for a purchase price of $14/TH ($18.6 million). 20% of the purchase price is deferred until May 30, 2024, with the balance payable in progressive instalments prior to shipping. The newly acquired S21s (17.5 J/TH) and T21s (19 J/TH) 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/s; andimprove overall fleet efficiency from 29.5 J/TH to 25.8 J/TH. 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/s1. Early works and procurement for the next 100MW of data centers at Childress have commenced, with 600MW of total power available on site. 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 sites with low-cost, under-utilized renewable energy, and supports 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...