Iris Energy Limited (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 1.6 EH/s of Bitmain T21 miners to increase self-mining capacity to 10 EH/s.

Key Highlights

Iris Energy is acquiring 8,380 new-generation T21 miners from Bitmain Technologies Delaware Limited for a purchase price of $14/TH ($22.3 million, payable in progressive instalments). Shipping is scheduled for Q2 2024.

The newly acquired S21 and T21 miners, once installed, will improve overall fleet efficiency from 29.5 J/TH to 24.8 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 the increase in operating hashrate from 5.6 EH/s to 10 EH/s.

Early works and procurement for the next 100MW of data centers at Childress are ongoing, with 500MW of additional power immediately 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.

https://www.investing.com/news/cryptocurrency-news/iris-energy-increases-mining-capacity-to-10-ehs-432SI-3257442