Iris Energy is slated to add thousands of mining rigs to boost its Bitcoin mining capacity to almost three times its current rate.
Based on the S19j Pro’s maximum hashrate of 100 Tera Hashes per second , the purchase adds an estimated 44,000 miners to its fleet, according to Cointelegraph’s calculations.
Daniel Roberts, Iris’ co-founder and Co-CEO said the purchase “is a significant milestone” for the company and added its been a “challenging period for both the industry and markets more generally.” Iris said the new miners will be installed in the company’s centers but did not mention in which locations. The firm operates three facilities in various locations in British Columbia, Canada and one in Texas in the United States.The company used $67 million of remaining prepayments to ASIC miner manufacturer Bitmain to fund the purchase of the rigs “without any additional cash outlay.”
Iris had a 10 EH/s contract with Bitmain which it says “have been fully resolved, with no remaining commitments.” It stated it remains debt free. The firm said it’s also considering options to sell surplus miners above its 5.5 EH/s of mining capacity to re-invest.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin miner Iris Energy will nearly triple hashrate after buying 4.4 EH/s in machinesAs they get installed in the coming months, the new machines will bring the company's hashrate back up to 5.5 EH/s — similar to 2022 levels, before it unplugged machines collateralizing a loan.
Read more »
Pro-Ripple Lawyer: Bitcoin (BTC) Will Not Be Security Even if Satoshi Had Sold ItXRP lawyer says Bitcoin (BTC) will never be security, regardless of Satoshi's actions BTC $BTC ETH $XRP $ETH
Read more »
Bitcoin price eyes $22K rebound with BTC market structure 'not yet broken'Bitcoin attempts to reclaim $22,000 as analysts stay neutral on BTC price action.
Read more »
'Rich Dad Poor Dad' Author Alerts Bitcoin (BTC) Crash on Valentine's DayRobert Kiyosaki, author of bestselling business literature 'Rich Dad Poor Dad,' expects massacre in financial markets on Feb. 14
Read more »
Pairs in Focus This Week \u2013 BTC/USD, EUR/USD, AUD/USDGet the Forex Forecast using fundamentals, sentiment, and technical position analyses for major pairs for the week of February 12th, 2022 here.
Read more »
Bitcoin (BTC) Price Analysis for February 12Can BTC return to $22,000 next week? NickSzabo4 alistairmilne Maybemore_DC WhalePanda maxkeiser Rager
Read more »