IREN - Iris Energy initiates installation of miners for meeting 5.5 EH/s target

2023-03-13 08:06:59 ET

• Iris Energy ( NASDAQ: IREN ) commenced taking delivery of, and installing, miners for ramping up to 5.5 EH/s of operating capacity.
• Delivery of the remaining miners is expected by March end with majority of these miners expected to be operational shortly thereafter.
• In February mid, the company had announced that it is accelerating its bitcoin ( BTC-USD ) self-mining capacity to 5.5 EH/s from 2.0 EH/s over the upcoming months.
• 160MW of data center infrastructure (supporting ~4.9 EH/s) is available immediately, with commissioning of the first 20MW at Childress (supporting the remaining ~0.6 EH/s) expected in the coming months.
• It also confirmed it does not hold deposits with Silicon Valley Bank, Silvergate Capital or Signature Bank.

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