Iris Energy Limited (NASDAQ:IREN) announced that, following the start of installation of its newly-acquired miners, it has increased its operating hashrate to a current level of 2.0 exahashes per second (EH/s), which is part of the company’s recently-announced increase in self-mining capacity to 5.5 EH/s.
The sustainable Bitcoin mining firm said an additional 0.8 EH/s of miners have been delivered and are in various stages of unboxing, transportation between sites and installation, while the remaining 2.7 EH/s of miners are in transit with progressive deliveries scheduled between now and the end of March with the majority expected to be operational shortly thereafter.
Iris noted that 160 megawatts (MW) of data centers (supporting ~4.9 EH/s) is available immediately, with the commissioning of the first 20MW at Childress (supporting the remaining ~0.6 EH/s) expected in the coming months.
READ: Iris Energy commences miner installation for ramp-up to 5.5 EH/s of operating capacity
As well, the company said Salvare Station, the new adjacent switchyard owned by the transmission utility, has been energized, which enables connection of the 600MW Childress project to the grid through AEP.
It added that completion of the switchyard represents another key project milestone as Iris nears energization of the 600MW bulk substation as well as the initial 20MW data center.
Furthermore, the company reported that between March 13, 2023 and March 15, 2023, an entity affiliated with Iris Energy director Michael Alfred acquired 105,461 company shares for consideration of about $297,585.
Iris Energy is a sustainable Bitcoin mining company that supports the decarbonization of energy markets and the global Bitcoin network.
Contact Sean at sean@proactiveinvestors.com