Iris Energy Turns On 41MW of Bitcoin Mining Machines Ahead of Schedule

Iris Power (IREN) energized 41 megawatts (MW) of Bitcoin mining machines in British Columbia, Canada greater than a month forward of schedule.

The addition brings the corporate’s hashrate, or computing energy on the bitcoin community, to 2.3 exahash/second (EH/s), it stated in a Monday press launch. One other 1.4 EH/s, requiring 50MW of power capability, additionally in British Columbia, is scheduled to be up and operating by the tip of September, it stated.

Rack area has been a significant constraint for bitcoin miners, lots of whom have obtained mining rigs however have nowhere to plug them in as a result of building delays.

Iris Power “continues to work by deployment choices for its remaining 2.3 EH/s of miners,” together with 1.7 EH/s of Bitmain Antminer S19j Professionals it purchased from Bitmain earlier this month.

Shares of Iris Power rose greater than 10% on Nasdaq.

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