IREN - Iris Energy Secures $413M For Bitcoin Mining Expansion | Benzinga
Iris Energy Limited (NASDAQ:IREN), a prominent data center company, announced on Tuesday that it has secured $413 million to fuel its Bitcoin (CRYPTO: BTC) mining expansion.
What Happened: This funding, part of a broader capital raise of $425.3 million, comes as Iris Energy aims to enhance its data center capacity and scale its Bitcoin mining operations.
The company revealed that it now holds $425.3 million in cash, ensuring its ambitious 2024 expansion plans are fully funded.
This expansion includes increasing its mining capacity to 30 exahashes per second (EH/s) and boosting its data center capacity to 510 megawatts (MW).
Additionally, the company has created a financial buffer to ...