IREN - Iris Energy mines 8% more bitcoins in September while hashrate climbs 24%

• Iris Energy's ( NASDAQ: IREN ) bitcoin ( BTC-USD ) production was 325 in September , rising from 301 in August, it said Friday. That increase, though, was small compared with its hashrate due to rising mining difficulty.
• The difficulty of mining is a closely-watched metric in the crypto ecosystem. It measures how hard it is to mine a bitcoin ( BTC-USD ) block based on the amount of participants and computing power (hashpower) used to mine and secure the blockchain. A higher difficulty tends to lower miners' profitability.
• For Iris ( IREN ), its average operating hashrate jumped 24% to 2,729 petahashes per second from a month ago. That, coupled with higher energy costs led to a 6% decline in operating revenue, standing at $6.2M.
• Elsewhere, the miner, in an effort to raise capital, has recently agreed to sell up to $100M of ordinary shares to investment bank B. Riley ( RILY ) over the next two years. IREN said it's also looking at an array of growth initiatives such as ongoing organic expansion and potential mergers and acquisitions.
• Previously, (Sep. 27) Iris Energy boosts mining capacity to over 3.7 EH/s, as expected .

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