IREN (Iris Energy Limited) (NASDAQ:IREN) (together with its subsidiaries, “IREN” or “the Company”), a leading next-generation data center business powering the future of Bitcoin, AI and beyond, today provided a business update.
Key Highlights
- Operating hashrate currently 10 EH/s, milestone achieved ahead of schedule
- 2024 expansion plans increased to 30 EH/s
- Secured latest-generation Bitmain S21 Pro miners with nameplate efficiency of 15 J/TH
- Upon completion, nameplate fleet efficiency of 16 J/TH and indicative electricity cost per Bitcoin mined of $17k
- Additional 50MW data center expansion at Childress (announced April 29, 2024)
- Funding through existing cash and other sources
- Additional Bitmain S21 Pro miner purchase options (10 EH/s) supporting expansion pathway to 40 EH/s in 1H 2025
2024 expansion plans increased to 30 EH/s
The Company’s previously announced 2024 expansion plan to 20 EH/s has been increased to 30 EH/s.
This accelerated growth is enabled through amended and new agreements with Bitmain, along with the construction of an additional 50MW of data center capacity at Childress in 2024.
