IREN - Iris Energy sets sights on sustainable Bitcoin mining

(NewsDirect)

Iris Energy Ltd(NASDAQ:IREN) co-founder and CEO Daniel Roberts sits down withProactive’s Elisha Newell to introduce the company’s sustainableBitcoin mining vision.

Iris’ business model revolves around using low-cost, 100%renewable energy to scale its mining operations, with 428 Bitcoinmined over June 2023.

As the Bitcoin industry continues to grow, Daniel says thefocus is on expanding and developing new Bitcoin mining sites andpursuing value-accretive opportunities.

“We set out with a vision to not just use100% renewable energy, but target excess stranded renewables, as weknow governments around the world are incentivising the mass build outof wind and solar, and often it's in markets where there's notenough demand for this power,” he told Proactive on Friday.

“And further to that, the intermittentnature of this renewable generation is wreaking havoc on energymarkets. We give that power back to the market now, when power pricesgo negative and we're actually paid to take power.”

ContactDetails

Proactive Investors

JonathanJackson

+61 413 713 744

jonathan@proactiveinvestors.com

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