Cryptocurrency

Iris Energy increases mining power to 20 EH/s, boosting expansion efforts for better performance.

The Latest Updates from Iris Energy Limited

Exciting Expansion Plans

Today, Iris Energy Limited (dba IREN) provided a comprehensive update on its business operations and expansion plans. The company is thrilled to announce its ambitious goal of reaching 20 EH/s in 2024.

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Expansion Progress Overview

IREN has made significant strides in its expansion efforts:

  • Operating hashrate has been boosted to 7 EH/s in the first half of 2024.
  • The company aims to commission the remaining 3 EH/s by the first half of 2024.
  • In the second half of 2024, IREN plans to scale up to 20 EH/s with the acquisition of 10 EH/s of new Bitmain T21 miners through fixed-price contracts.
  • Additionally, a 200MW expansion at the existing Childress data center is in the pipeline.

About IREN

IREN stands as a leading data center enterprise, fueling the future of Bitcoin, AI, and beyond with a commitment to 100% renewable energy sources.

  • Bitcoin Mining: Securing the network with plans to expand to 20 EH/s by 2024.
  • AI Cloud Services: Offering cloud compute solutions to AI clients with plans to expand to 816 NVIDIA H100 GPUs.
  • Next-Generation Data Centers: Currently operating at 220MW with a target of 460MW by 2024, designed for high-performance computing.
  • Technology Stack: Optimizing performance for AI Cloud Services, Bitcoin Mining, and energy trading operations.
  • Development Portfolio: Securing 2,160MW of power capacity, with a substantial property portfolio and further development projects in the pipeline.
  • 100% Renewable Energy: Focusing on low-cost renewable energy sources to support both the grid and local communities.

Media and Investor Contacts

Media
Jon Snowball Domestique +61 477 946 068
Danielle Ghigliera Aircover Communications +1 510 333 2707 		Investors
Lincoln Tan IREN +61 407 423 395 [email protected]

Stay Updated

To receive the latest news from IREN and access SEC filings, subscribe to email alerts here.

Forward-Looking Statements

This press release contains forward-looking statements regarding IREN’s future plans and performance. These statements are subject to various risks and uncertainties that may impact actual results. For more information, refer to the company’s filings with the SEC.

Exciting Developments Ahead

IREN is poised for remarkable growth in the coming years, with a clear focus on sustainability and innovation. Stay tuned for more updates from this dynamic company!

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