Bitcoin Miner Iris Energy Announces Significant Capacity Increase to 6 EH/s
Iris Energy, the publicly-listed bitcoin miner, has announced a boost in its mining capacity to 6 exahash per second (EH/s) with plans for an additional 4 EH/s to be online by the first half of 2024.
The expansion follows the deployment of new mining hardware, including purchases of application-specific integrated circuit (ASIC) mining rigs over the last six months. Notable acquisitions include Bitmain S21 Antminers in October 2023, 7,000 T21 Antminers in November, and another 8,380 T21 Antminers in December.
Iris Energy aims to reach a 20 EH/s target by the latter half of 2024, facilitated by a significant acquisition of 10 EH/s of Bitmain T21 miners. However, shares of IREN have experienced a decline of 47.2% against the U.S. dollar since the beginning of the year, reflecting a broader trend seen in publicly-listed mining companies, which have collectively lost $6 billion in value since the start of the year according to analysis by theminermag.com.
Clever Robot News Desk 25th January 2024
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