IREN - Iris Energy stock jumps as bitcoin production grows 1% in January

Iris Energy (NASDAQ:IREN) stock gains more than 16% as its January bitcoin production of 126 increased by 1%. Note that bitcoin (BTC-USD +6.8%) is surging above $44K per token intra-day. The company's operating revenue of $5.0M in January dropped from $6.2M in December. Operating hashrate rose 18% to 804 petahash/second in January. Additionally, construction is ahead of schedule at Mackenzie, with commissioning for the first nine megawatts now anticipated in early Q2, the company said. For corporate updates, Iris (IREN) executed a 600MW agreement with AEP Texas for a new data center site on its 300+ acre freehold land in the renewables heavy Panhandle region of Texas. The new site is expected to increase the Company’s power capacity from 165MW (4.7 EH/s) to 765MW. Meanwhile, its Canal Flats project achieved monthly average operating hashrate of 804 PH/s in January, an 8% increase from the prior month, driven by the installation of new hardware to replace existing lower efficiency

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Iris Energy stock jumps as bitcoin production grows 1% in January