Iris Energy Increases Mining Capacity with Acquisition of Bitmain Miners
Renewable Bitcoin mining company, Iris Energy, has announced the acquisition of 1.6 EH/s of Bitmain T21 miners, expanding its self-mining capacity to 10 EH/s. The company plans to purchase 8,380 new-generation T21 miners from Bitmain Technologies Delaware Limited for $22.3 million. These miners are expected to improve overall efficiency from 29.5 J/TH to 24.8 J/TH.
Data Center Expansion and Future Plans
Iris Energy is also progressing with its 80MW data center expansion in Childress, which will support the growth of its operating hashrate from 5.6 EH/s to 10 EH/s. The company is also working on an additional 100MW of data centers at Childress.
Irish Energy Data Services to Cater for Hot-Red Demand for Generative AI Computing
In addition to Bitcoin mining, Iris Energy is exploring high-performance computing (HPC) data center strategy and recently invested $10 million in Nvidia H100 GPUs for generative artificial intelligence (AI) computing opportunities.
Hot Take: Iris Energy Poised for Growth in 2024
Iris Energy’s acquisition of Bitmain miners and ongoing data center expansions position the company for significant capacity growth in 2024. With a focus on renewable energy and diversifying into AI computing, Iris Energy is well-positioned to capitalize on the evolving cryptocurrency market.
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