Iris Energy Expands Self-mining Capacity To 5.5... «2027»

Strategic Milestone: Iris Energy Expands to 5.5 EH/s Iris Energy achieved a major operational milestone in February 2023 by increasing its Bitcoin self-mining capacity from . This expansion was strategically significant because it was funded entirely by utilizing $67 million in existing prepayments to Bitmain, requiring no additional cash outlay from the company. Operational & Financial Impact

: To reach the 5.5 EH/s target, Iris Energy successfully sold 2.3 EH/s of its remaining contracted miners to a third party, optimizing its fleet for immediate installation in its own data centers. Iris Energy expands self-mining capacity to 5.5...

: All new capacity is powered by 100% renewable energy infrastructure across sites in British Columbia and Texas. Infrastructure & Execution Strategic Milestone: Iris Energy Expands to 5

: As of March 2023, the company had already reached 2.0 EH/s in operating hashrate, with the remaining 3.5 EH/s scheduled for rapid installation following delivery. Future Scaling Beyond 5.5 EH/s : All new capacity is powered by 100%

: The expansion coincided with the nearing energization of the 600MW Childress site , which initially provided 20MW of data center capacity to support the new miners.

: By leveraging prepayments and avoiding new debt, the company maintained a strong balance sheet during a volatile market period.

The jump to 5.5 EH/s served as the foundation for IREN's rapid scaling through 2024 and beyond: Iris Energy provides 10 EH/s expansion update | IREN