Iris Energy Increases Power Capacity at Texas Facility for Bitcoin Mining

Iris Energy Limited has expanded its power capacity at the Childress site in Texas from 600 MW to 750 MW, following approval from ERCOT and an updated agreement with American Electric Power. 

This increase boosts the company’s total secured power capacity to 2,310 MW, with plans to use 910 MW for data centers by 2024 and expand to 1,400 MW by 2026, aiming to surpass 1 GW by 2030. 

Iris Energy, which provides bitcoin mining and AI cloud computing services using renewable energy, faces challenges with low hashprice but continues to innovate and grow. Despite a 3% drop in stock value over the past week and a 10% decline in the last month, the company remains a significant player in the industry.

Clever Robot News Desk 25^th July 2024