Iris Energy Boosts Self-Mining Capacity With 4.4 EH/s of New Bitmain Bitcoin Mining Rigs

Bitcoin miner, Iris Energy, announced plans to summation the company’s self-mining capacity, from 2 exahash per 2nd (EH/s) to astir 5.5 EH/s, aft it receives 4.4 EH/s of caller Antminer S19j Pro miners from Bitmain.

Iris Energy Leverages $67 Million successful Bitmain Prepayments for Latest Mining Expansion

Bitcoin mining company, Iris Energy, announced plans to summation its self-mining capableness to 5.5 exahash per 2nd (EH/s) from 2 EH/s. The institution precocious unplugged 3.6 EH/s of mining rigs successful November 2022 aft receiving a default notice from a lender. To get 4.4 EH/s worthy of machines, the institution is utilizing astir $67 cardinal successful Bitmain credits.

The recently acquired S19j Pro mining rigs volition beryllium distributed among Iris Energy’s information centers successful British Columbia and Texas. If the institution finds it has an excess of machines, it volition merchantability them to put successful firm purposes and maturation initiatives. Daniel Roberts, co-founder and co-CEO of Iris Energy, described the latest determination arsenic an indispensable juncture for the bitcoin mining firm.

“This is simply a important milestone for Iris Energy. We are delighted to person been capable to utilize our remaining Bitmain prepayments to get caller miners without immoderate further currency outlay,” Roberts said successful a statement. “In doing so, [it] not lone increase[s] our self-mining capableness to 5.5 EH/s, each powered by 100% renewable vigor information halfway infrastructure, but besides afloat resolve[s] our obligations nether our declaration with Bitmain,” Roberts added.

In 2022, bitcoin mining operations faced challenges owed to a important depreciation of BTC prices. Some operations went bankrupt during the crypto winter. However, 2023 has seen an betterment successful crypto prices, though U.S. regulators person increased enforcement, which has temporarily paused the caller rise. As of Monday, February 13, 2023, BTC’s terms is unchangeable and hovering astir its worth anterior to the FTX collapse.

What bash you deliberation the aboriginal holds for bitcoin mining companies similar Iris Energy? Share your thoughts successful the comments below.

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