Iris Energy Limited (NASDAQ:IREN) has issued an update on the installation of its 5.5 EH/s of bitcoin mining capacity.
The company has increased its operating hashrate, essentially the speed at which bitcoin is mined, from 2.0 EH/s to a current level of 2.8 EH/s.
An additional 2.0 EH/s of miners have been delivered and are pending installation, the company said, while the remaining 0.7 EH/s of miners are in transit and scheduled to be delivered imminently.
Meanwhile, 160 megawatts (MW) of data centers supporting about 4.9 EH/s is available immediately, with the commissioning of the first 20MW at Childress supporting the remaining roughly 0.6 EH/s is expected in the coming months.
Elsewhere, Iris Energy said that on March 30, an entity affiliated with a director of the company, Michael Alfred, acquired an additional 25,000 ordinary shares for approximately $75,753. Since March 13, the affiliated entity has acquired 130,461 ordinary shares for total consideration of approximately $373,338.
Iris Energy is a sustainable Bitcoin mining company that supports the decarbonization of energy markets and the global Bitcoin network.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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