Iris Energy Expands Bitcoin Mining Powered by Renewable Energy

Iris Energy Limited, a NASDAQ-listed company, has announced its monthly update for September 2023. The Australian-based firm specializes in operating Bitcoin mining data centers powered entirely by renewable energy, according to globenewswire.

Their significant growth is evident from an impressive 30 EH/s Bitcoin mining program and an 80MW expansion currently on track in Childress. To strengthen their green energy commitment, the power cost at Childress has been consistently low, recorded at 1.4c since its inception. Moreover, this is complemented by the construction progress of the second and third data centers at Childress.

Looking ahead, Iris Energy is set to partake in upcoming conferences, including the AFR Cryptocurrency Summit in Sydney and the AIM Summit in Dubai. On the technological front, the company is preparing for the future with its next-gen compute initiative and has ordered NVIDIA H100 GPUs. They’ve also been engaged in discussions about potential cloud and colocation services.

Notably, Iris Energy’s commitment to sustainability is unwavering. Their various projects, including Canal Flats, Mackenzie, and Prince George in Canada, as well as Childress in Texas, USA, have been running on 100% renewable energy. The hashrate performance of these projects shows a consistent growth month-over-month.

To further solidify their community ties, Iris Energy has been actively involved in community initiatives. They sponsored the annual golf tournament held by the Prince George Community Foundation. Plus, they’ve announced their 2023 Community Grants Program, generously awarding funds to several non-profit organizations across various regions.

Iris Energy’s future looks promising. They have ongoing development activities in Canada, the USA, and the Asia-Pacific, aiming to support an additional capacity of more than 1GW, beyond their announced 760MW. Their September report also highlighted a slight increase in their average operating hashrate. However, the number of Bitcoins mined decreased due to increased network difficulty and fewer days in September.