Iris Energy said it increased its Bitcoin creation in April by 85% from the previous month, mining 319 Bitcoin.
In its monthly investor update, the company said its average operating rate increased 107% month-over-month to 3,965 PH/s in April while its monthly operating revenue more than doubled, up 109% at US$9 million.
Further, the company noted that its increase in self-mining capacity to 5.5 EH/s is complete.
To facilitate additional growth beyond this 5.5 EH/s, Iris said it acquired 200 of the latest generation Bitmain S19 XP miners for testing across its sites.
At its Childress site in Texas, the United States, the company said its 600MW bulk power substation and 100MW primary substation were energized, with its 20MW data center now operational with final commissioning activities underway.
Iris said it expects its significant upfront investment in key infrastructure will allow it to expand rapidly beyond the first 20MW, with planning underway to utilize the 580MW of spare power capacity at the site.
Iris Energy is a sustainable Bitcoin mining company that supports the decarbonization of energy markets and the global Bitcoin network.
Contact the author at emily.jarvie@proactiveinvestors.com
Follow her on Twitter @emilyjjarvie