Iris Energy Limited (NASDAQ:IREN) has provided an update on the installation of its 5.5 exahashes per second (EH/s) of operating capacity, saying it has increased its operating hashrate from 3.1 EH/s to a current level of 3.6 EH/s.
The sustainable Bitcoin mining company also noted that all remaining 1.9 EH/s of miners have now been delivered and are pending installation.
Iris added that 160 megawatts (MW) of data centers (supporting about 4.9 EH/s) is available immediately, with commissioning of the first 20MW at Childress (supporting the remaining about 0.6 EH/s) expected in the coming weeks.
As well, the company stated that on April 6, 2023, the 600MW bulk power substation at Childress was energized, completing the connection of the site to the ERCOT grid.
As previously disclosed, following the completion of the connection, about $18 million in previous deposits with AEP Texas are expected to be refunded, Iris said.
Furthermore, the company advised that between April 6, 2023 and April 11, 2023, an entity affiliated with Iris Energy director Michael Alfred acquired an additional 75,000 company shares for consideration of approximately $264,803.
Since March 13, 2023, the relevant affiliated entity has acquired a total of 430,461 Iris Energy ordinary shares for consideration of about $1,283,253, according to the company.
Iris Energy is a sustainable Bitcoin mining company that supports the decarbonization of energy markets and the global Bitcoin network.
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