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Iris Energy’s 160MW of Data Center Capacity in British Columbia Not Affected by Recent Government Decision to Temporarily Suspend New and Early Stage Connection Requests for Cryptocurrency Mining
SYDNEY, Australia, Dec. 23, 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, Dec. 23, 2022 (GLOBE NEWSWIRE) -- Iris Energy Limited (NASDAQ: IREN) (“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 that its 160MW of data center capacity is not affected by the recent announcement by the Government of British Columbia. On December 21, 2022, the Government of British Columbia announced a temporary 18-month suspension on new and early stage BC Hydro connection requests from cryptocurrency mining projects due to unprecedented interest1. According to the release, cryptocurrency mining projects that are operational, and a small number of projects that are well advanced in BC Hydro’s connection process, will not be affected. As a result, the Company’s 160MW of data center capacity at Canal Flats (30MW), Prince George (50MW) and Mackenzie (80MW) is unaffected. Iris Energy looks forward to continuing to work with BC Hydro and local communities in respect of its existing data centers and any additional development projects the Company may pursue in the future. In parallel, construction of the first 20MW data center at its 600MW project in Childress, Texas remains on track, with the Company continuing to progress development works across its globally diversified pipeline of future sites. 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 centers with cumulative experience in delivering >$25bn in energy and infrastructure projects globally Forward-Looking Statements This investor update includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to...