IREN Thrives with Sustainable Growth in Bitcoin Mining and AI Cloud Services

IREN, a leader in next-generation data center operations, showcased its vigorous expansion in the April 2024 investor update, highlighting remarkable progress in Bitcoin mining and AI cloud services. The company’s operational hashrate reached 9.4 exahashes per second and is poised to hit 10 EH/s soon. *reference4

Amidst its expansion, IREN successfully mined 358 Bitcoin and anticipates doubling its hashrate capacity to 20 EH/s by the latter half of 2024. This development is part of a fully funded strategy that also includes upscaling its data center capacity to 510 megawatts, catering to the expected growth.

In addition, IREN has significantly enhanced its AI cloud services, integrating 816 NVIDIA H100 GPUs at its Prince George center, doubling its agreement with Poolside Data Centers. This move is estimated to yield $14 to $17 million in annualized hardware profits, with a payback period of 24 months.

The company’s focus on sustainability is evident as it powers its operations with 100% renewable energy. This initiative not only underscores its commitment to eco-friendly practices but also aligns with growing investor interest in sustainable and responsible business operations.