Iris Energy Limited (NASDAQ:IREN) said in its monthly update that its plan to add another 80MW to its Childress bitcoin mining operation in Texas is continuing on track.
The construction of the remaining 80MW, or four data centers of 20MW each, for Phase 1 of Iris Energy's expansion is progressing as planned.
Key construction components, including mass grading civil works, concrete foundations for two data centers, and the primary steel structure for one of the data centers, have been successfully completed, Iris said.
In September 2023, Iris Energy achieved an average operating hashrate of 5,554 PH/s and mined 390 Bitcoins, generating mining revenue of US$10,278, while incurring electricity costs of US$5,354.
Revenue per Bitcoin stood at US$26,331.
Iris Energy experienced a slight increase in the average operating hashrate compared to August (5,554 PH/s vs. 5,493 PH/s). The decrease in Bitcoin mined (390 vs. 410 in August) was due to heightened network difficulty and one less day in the month, the company said.
While electricity costs per Bitcoin rose ($13,700 vs. $10,600 in August) due to reduced energy trading proceeds at Childress; however, this was offset by a higher operating hashrate for the month.
Iris Energy's recent partnerships and participation in significant industry events like the AI Hardware & Edge AI Summit 2023 demonstrate the company's dedication to embracing innovative technology. The integration of NVIDIA H100 GPUs into its data centers underscores Iris Energy's continuous efforts to optimize operations and drive sustainable practices within the sector.