Iris Energy to Ramp Up Capacity in 2024 Following $22M Spend on Bitmain Rigs

cryptonews.com:

Renewable Bitcoin mining company Iris Energy has revealed the acquisition of 1.6 EH/s of Bitmain T21 miners, increasing its self-mining capacity to 10 EH/s.

In a press release on December 15, the company disclosed plans to acquire 8,380 new-generation T21 miners from Bitmain Technologies Delaware Limited at $14/TH ($22.3 million).

$IREN is pleased to announce it is increasing its self-mining capacity to 10 EH/s

– Acquisition of 1.6 EH/s of @BITMAINtech T21 miners
– $22.3m purchase price ($14/TH)
– Expansion from 5.6 EH/s to 10 EH/s on track
– Improves overall efficiency from 29.5 J/TH to 24.8 J/TH

— Iris Energy (@irisenergyco) December 15, 2023

Prior to the latest purchase, Iris Energy had initially ordered Bitmain S21 miners to generate 1.4EH/s of mining output.

These S21 and T21 miners, scheduled for shipping in Q2 2024, are expected to enhance the overall fleet efficiency from 29.5 J/TH to 24.8 J/TH upon installation.

Meanwhile, Iris Energy’s 80MW data center expansion in Childress is progressing. It is set to deliver incrementally from January 2024 to Q2 2024 and support the operating hashrate growth from 5.6 EH/s to 10 EH/s.

Early works and procurement efforts for an additional 100MW of data centers at Childress are also ongoing, backed by an immediate 500MW power availability on-site.

This recent acquisition follows the June 20 announcement of Iris Energy advancing the construction of 80MW of data centers for Phase 1 (first 100MW) at its 600MW Childress site.

$IREN today announced:
– 80MW Childress construction underway, target increase in potential data center capacity from 5.6 EH/s to ~9.1 EH/s by early 2024
– Long-lead items to unlock ~13.6 EH/s
– Prior HPC data center strategy revitalized
– Limited recourse financing update

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