2 years ago
Bitcoin (BTC) miner Iris Energy IREN shares person jumped by astir 20% pursuing quality of its planned 9.1 exahashes/second (EH/s) expansion.
Data from Nasdaq shows that miner shares roseate to $4.09 from $3.53 during aboriginal trading hours of June 20.
Expansion plans
According to a July 20 property statement, Iris plans to expand its capableness by 63% to 9.1 EH/s by aboriginal 2024 and revitalize its high-performance computing (HPC) information halfway strategy.
Source: Iris EnergyIris stated that it has started gathering Phase 1 of its Childress installation successful Texas. This volition adhd 80 MW to its information centers, expanding the capableness to 9.1 EH/s1 by aboriginal 2024.
Additionally, the miner said that it has continued to acquisition agelong pb items that would assistance the operation of a 100-megawatt (MW) installation for its Childress Phase 2, pushing its information halfway capableness to 13.6 EH/s. The miner did not springiness a clip framework for this construction.
“Near-term absorption remains connected information halfway construction, whilst retaining flexibility connected timing for miner purchases, which is taxable to backing and marketplace conditions.”
The miner added that it remains good capitalized with $64 cardinal successful currency and operating cashflows from its existing 5.6 EH/s, adding that it has nary debt.
High-performance computing
Iris further revealed that its erstwhile HPC information halfway strategy is present a parallel focus. It signed a strategical memorandum of knowing with Dell Technologies successful March 2020 to research and make energy-efficient information halfway solutions for compute-intensive applications.
Iris said caller developments wrong the abstraction and its discussions with marketplace participants had validated these erstwhile works, adding that “the clip whitethorn beryllium close to grow into this sector.”
The miner added that this could impact leveraging its 4 operational sites and divers portfolio of further planetary locations presently being developed.
The station Bitcoin miner Iris Energy’s shares surge 20% connected enlargement announcement appeared archetypal connected CryptoSlate.
English (US) 