Iris Energy’s December Hashrate Rises 14% as Revenue Falls Again

Nasdaq-listed Iris Energy’s (IREN) mean hashrate was up 14% period connected period successful December 2021 portion operating gross fell 6.4%, the institution successful a Tuesday filing with the U.S. Securities and Exchange Commission.

• The miner’s computing powerfulness connected the bitcoin web reached 748 petahash/second (PH/s), compared with 657 PH/s successful November. The Australian steadfast attributed the summation to the installation of 1,666 rigs of the Bitmain Antminer S19j Pro that replaced older machines successful its Canal Flats, British Columbia site.

• Iris Energy mined 124 bitcoin successful December compared to 113 bitcoin successful November.

• During the aforesaid period, operating gross successful U.S. dollars fell 6.4% to $6.2 cardinal arsenic gross per bitcoin mined plunged to 14.8% and outgo of energy per bitcoin mined accrued by 4.6%. The institution attributed the gross driblet to losses successful the terms of bitcoin and accrued difficulty successful mining.

• Iris Energy saw a 10% driblet successful gross successful November.

• As of writing, shares of Iris Energy were up 0.81% successful pre-market trading.

• Two caller sites successful British Columbia volition bring successful a combined 3.9 exahash/s (EH/s) erstwhile operational, Iris Energy said. One tract successful Mackenzie volition present 1.5 EH/s successful 2022, with the archetypal 0.3 EH/s expected Q2 2022, and different successful Prince George volition present 1.4 EH/s successful Q3 2022, expanding to 2.4 EH/s sometime successful 2023, according to the statement.

• In summation to these 2 mines, Iris Energy is processing sites that volition bring successful 10.6 EH/s erstwhile completed, it said. The miner and is expecting 138,574 Antminers to vessel by Q3 2023, the filing said.

• The institution claims its crypto mining operations are “100% renewable since inception” due to the fact that they usage 98% renewable vigor and the remainder is made up for by the acquisition of Renewable Energy Certificates.