Table of Contents
In a strategic move on December 15, Iris Energy, a leading renewable Bitcoin mining company, disclosed the acquisition of 1.6 EH/s of Bitmain T21 miners, substantially boosting its self-mining capacity to an impressive 10 EH/s. Additionally, the company unveiled its intention to secure 8,380 new-generation T21 miners from Bitmain Technologies Delaware Limited, committing $22.3 million at a rate of $14/TH, as detailed in an official press release.
Before the recent acquisition, Iris Energy had previously placed orders for Bitmain S21 miners, aiming to achieve a mining output of 1.4 EH/s.
With the Bitmain S21 and T21 miners expected to be shipped in Q2 2024, Iris Energy foresees a substantial enhancement in overall fleet efficiency, aiming to reduce energy consumption from 29.5 J/TH to 24.8 J/TH upon installation. Concurrently, the ongoing expansion of an 80MW data center in Childress by Iris Energy is progressing, set to contribute incrementally from January 2024 to Q2 2024, supporting the growth of the operating hash rate from 5.6 EH/s to 10 EH/s.
#Bitcoin #Bitcoinmining #IrisEnergy #Bitmain Iris Energy to double hash rate in 2024 with $22M Bitmain T21 mining rig order https://t.co/zv9JRNcVnJ
— CryptoCoinFabriek (@CryptoFabriek) December 15, 2023
Additionally, ongoing early works and procurement efforts for an additional 100MW of data centers at Childress are well underway, backed by an immediate on-site power availability of 500MW. This recent acquisition builds on Iris Energy’s commitment, aligning with the June 20 announcement of advancing the construction of 80MW of data centers for Phase 1 at its 600MW Childress site.
Focusing on data center construction, Iris Energy’s immediate priorities revolve around the procurement efforts for long-lead items at Childress Phase 2 (second 100MW), a move expected to unlock approximately 13.6 EH/s of data center capacity.
Meanwhile, the ongoing efforts for the additional 4 x 20MW data centers are set to significantly bolster the company’s potential operating capacity by approximately 63%, reaching 9.1 EH/s from the current 5.6 EH/s. The targeted completion for these additions is early 2024. However, the timing of miner purchases remains contingent on funding and market conditions.
Meeting High Demand: Iris Energy’s Data Services for Generative AI Computing
This strategic investment aligns with Iris Energy’s commitment to diversify beyond Bitcoin mining, marking a significant step into the realm of generative artificial intelligence (AI) by acquiring 248 advanced Nvidia H100 Graphics Processing Units (GPUs) for deployment in cloud computing opportunities, all while maintaining its strong financial position with robust capitalization and positive operating cash flows.
Leveraging abundant renewable energy sources, Iris Energy strategically operates in multiple regions across North America, including Mackenzie, Canal Flats, Prince George in Canada’s British Columbia, and its Childress site in Texas.
For any queries and suggestions contact us here.
