IREN - What's Going On With Bitcoin-Miner Iris Energy's Stock? | Benzinga
Iris Energy Limited (NASDAQ:IREN) shares are trading higher Monday after the company provided a business update. Here's a look at what's going on.
What To Know:
Iris Energy reported that its 2024 expansion is now fully funded with $301 million in cash and no debt. The company said it will have 460 MW of data center capacity and 20 EH/s of Bitcoin mining capacity in 2024, with 8 EH/s currently operating and 12 EH/s additional capacity to be progressively shipped and installed over the next nine months.
The company expects its 20 EH/s of Bitcoin mining capacity to generate approximately $269 million of annualized ...