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Iris Energy Shares Jump Nearly 20% on Plans for Bitcoin Miner Expansion

June 21 (Cointime) - Shares of Bitcoin miner Iris Energy have risen by almost 20% following news of its planned expansion to 9.1 exahashes/second (EH/s). The company aims to expand its capacity by 63% by early 2024 and revitalize its high-performance computing (HPC) data center strategy.

Iris has started building Phase 1 of its Childress facility in Texas, which will add 80 MW to its data centers, while continuing to purchase long lead items for a 100 MW facility for its Childress Phase 2. The miner remains well capitalized with $64 million in cash and operating cashflows from its existing 5.6 EH/s.

Bitcoin Bitcoin $91,866.02
-5.8%
Bitcoin Miner Texas
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