Iris Energy Ramps up Bitcoin Mining Operations
Iris Energy Limited, a data center firm specializing in Bitcoin mining and AI cloud services, has announced its operational expansion plans for 2024.
The company, which uses 100% renewable energy, has already increased its operating hashrate to 7 EH/s and plans to commission the remaining 3 EH/s in the first half of the year.
In the second half of 2024, the company plans to scale operations significantly, with an additional 10 EH/s of new Bitmain T21 miners secured under fixed price contracts.
The expansion is coupled with a 200 MW increase at its existing Childress data center. Iris Energy’s current operational capacity stands at 220 MW, with plans to expand to 460 MW within the year.
The company’s growth strategy includes expanding its AI cloud services, leveraging 816 NVIDIA H100 GPUs, and expanding its development portfolio across North America.
The company’s technology stack is designed to optimize performance across AI Cloud Services, Bitcoin Mining, and energy trading operations.
(With inputs from Shikha Singh)
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