Iris Energy Limited is a leading operator of institutional-level Bitcoin mining data centers powered by 100% renewable energy. Said On February 13th, it was revealed that they increased their self-mining capacity from 2.0 EH/s to 5.5 EH/s.
The increase was due to the successful utilization of Bitmain’s remaining $67 million upfront. This allowed the company to acquire his new S19j Pro miner with 4.4 EH/s without any additional cash outlay.
The newly acquired miners will be installed in the company’s data centers in British Columbia and Texas over the next few months and will generate higher revenues compared to third-party hosting. The company says it will drive growth.
Iris is also considering options for selling surplus miners beyond its 5.5 EH/s self-mining capacity to reinvest in growth initiatives and other corporate purposes.
The deal fully resolved the company’s obligations under its existing 10 EH/s contract with Bitmain and released the company from its debt. Investor Update for December 2022is expected to lead to significant revenue growth this year.
By comparison, the company also expects a revitalization of Childres’ 600MW site, including the completion of its first 20MW of data center capacity in the coming months, which will add about 18 million to its previous deposit with AEP. A dollar is expected to be refunded. Texas.
Daniel Roberts, co-founder and co-CEO of Iris Energy, said: He increased the self-mining capacity to 5.5 EH/s, all in a 100% renewable energy data center. . “
The news comes after FUD that Iris was nearing bankruptcy in November 2022 and fears it was featured in the December 2022 investor report.
Founded in 2016, Iris Energy owns, leases and operates four high-megawatt green mining facilities in Canada and the United States, including a 180MW facility in British Columbia currently under construction and additional facilities at Price George and Canal Flats. We operate. Ultimately, 600MW will be available for mining, along with a new facility in Childress County, Texas, scheduled to open this year.
