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Iris Energy is Doubling Down on Renewable Bitcoin Mining

December 15, 2023
x min read
Iris Energy is Doubling Down on Renewable Bitcoin Mining

The price of Bitcoin has been on a tear. And Bitcoin miners are now making moves to expand their capacity.

What’s happening:

  • Sydney, Australia based Bitcoin miner Iris Energy (NASDAQ: IREN) has announced a significant increase in their mining capacity through a new purchase of Bitcoin mining rigs
  • The new purchase is set to both increase Iris’s operating hashrate and improve the overall efficiency of their Bitcoin mining fleet

By the numbers:

  • Iris Energy is purchasing 8,380 new generation miners from Bitmain Technologies
  • The total purchase price is approximately $22M USD
  • The new Bitcoin miners will be powered by 100% renewable energy

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