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Iris Energy Plans to Expand Bitcoin Mining Hash Rate Capacity by 63%

June 21 (Cointime) - Iris Energy, a Bitcoin miner listed on NASDAQ under the ticker IREN, has announced plans to increase its hash rate capacity by 63% to 9.1 exahashes per second (EH/s) by early 2024.

The announcement caused the company's shares to jump 21%. Iris Energy is currently constructing the remaining 80MW of data centers for Phase 1 of its 600MW Childress site in Texas, and the additional 4 X 20 MW data centers are expected to boost its operating capacity. The company remains well-capitalized with ~$64m of cash and no debt.

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