Breaking Records: Iris Energy Hits New Hash Rate Milestone
Australian Bitcoin mining firm Iris Energy has officially announced a significant bump in its hash rate, now surpassing 2.3 exahashes per second. This achievement comes after the completion of phase two operations in Mackenzie, Canada, which were wrapped up some two months ahead of the original plan. Looks like they are racing past the competition and setting the pace in the world of crypto mining!
Fast Track to Capacity: What’s Behind the Numbers?
With the introduction of 41 megawatts of operational capacity in British Columbia, Iris Energy has supercharged its existing hash rate with an additional 1.5 EH/s. Co-founder and co-CEO Daniel Roberts discussed how the company managed to energize the facility efficiently amid a rocky market landscape and ongoing global supply chain headaches. If only they could apply that same energy to the pizza order during late-night mining sessions!
Eyes on the Future: Plans for Expansion
The future looks promising as Iris Energy anticipates bringing another 50 MW online in Prince George, ramping up the capacity to a whopping 3.7 EH/s by the close of the third quarter of 2022. With deployment options already in the pipeline for an ambitious target of 6 EH/s, this company seems bent on becoming a powerhouse in the Bitcoin mining sector.
Funding Success: The Financial Backbone
Securing its financial position, Iris Energy raised $19.5 million in equity and an impressive $3.9 million in debt during its pre-IPO funding round back in December 2020. Since launching on Nasdaq in November 2021, the company’s shares have seen a steady climb, currently valued at $5.30, up by around 12% within the last 24 hours. Can you say, “cha-ching”?
The Green Factor: Commitment to Sustainability
In a world where Bitcoin’s environmental impact is often scrutinized, Iris Energy is keen on proving its commitment to sustainability. The firm focuses on data centers powered by renewable energy, addressing concerns raised by policymakers regarding the energy consumption and emissions linked to crypto mining. After all, even Bitcoin miners need to save the planet, one EH/s at a time!
