Iris Energy Limited(IREN), a leading company specializing in owning and operating data centers for bitcoin mining, powered exclusively by renewable energy sources, today announced the purchase of 1.6 exahash by second (EH/s) of new mining hardware Bitmain T21. This acquisition will allow the company to expand its autonomous mining capabilities to 10 EH/s.
Highlights
- Acquisition of 1.6 EH/s from the latest Bitmain T21 mining machines, which have an output of 19 joules per terahash (J/TH).
- Purchase cost of $14 per terahash (TH), for a total of $22.3 million.
- Achievement of the company’s objective of increasing self-operation capacities to 10 EH/s:
- Currently operational: 5.6 EH/s
- Delivery planned for the first quarter of 2024: 1.4 EH/s of Bitmain S21 mining equipment
- Delivery scheduled forfirst quarter 2024: 1.3 EH/s of Bitmain T21 mining equipment
- Expected Deliveryin the second quarter of 2024: 1.6 EH/s of Bitmain T21 mining equipment
- The 80 megawatt (MW) expansion of the Childress facility is proceeding as planned, facilitating an increase in the operational hash rate from 5.6 EH/s to 10 EH/s.
- Improved overall mining fleet efficiency from 29.5 J/TH to 24.8 J/TH.
Iris Energy has entered into an agreement to purchase 8,380 of Bitmain’s latest T21 mining machines from Bitmain Technologies Delaware Limited. The total purchase price is $14 per TH, or $22.3 million, to be paid in installments. The expected shipping date is Q2 2024.
Once the newly acquired S21 and T21 mining machines are operational, the overall efficiency of the mining fleet will increase from 29.5 J/TH to 24.8 J/TH.
Iris Energy’s 80 MW data center expansion in Childress is expected to be progressively completed between January 2024 and Q2 2024, improving operational hash rate from 5.6 EH/s to 10 EH /s.
Preparatory works and procurement processes for an additional 100 MW of data centers at Childress are currently underway, with immediate availability of an additional 500 MW of power at the site.About Iris Energy
Iris Energy is a company committed to sustainable Bitcoin mining, which contributes to the reduction of carbon emissions in energy markets and supports the global Bitcoin network.
- Commitment to 100% Renewable Energy: Iris Energy focuses on sites with access to low-cost, underutilized renewable energy, and improves the well-being of local communities.
- Long-term stability of infrastructure, land and energy supply: Iris Energy builds, owns and manages its own electricity infrastructure and specialized data centers, which ensures long-lasting stability and control of its assets.
- an experienced management team: Iris Energy’s management has a proven track record in energy, infrastructure, renewable resources, finance, digital assets and data centers, with collective experience in executing projects worth over $25 billion worldwide.
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