Iris Energy Paves the Way to 20 EH/s in 2024 with Miner Purchase Option
According to a report by Marketscreener DE, Iris Energy Limited has announced an agreement with Bitmain Technologies Delaware Limited. This strategic move aims to boost their mining capacity up to 20 exahashes per second (EH/s) by the year 2024. The company is currently focusing on completing its expansion plan that targets reaching a capacity of 10 EH/s.
The deal includes securing new Bitmain T21 miners for delivery in 2024 at a fixed price of $14 per terahash (TH). Additionally, Iris Energy has secured purchase options for another nine EH/s worth of miners, which can be exercised in the latter half of 2024. These efforts are part of their broader strategy involving the Childress Project, potentially supporting this ambitious growth target.
At present, Iris Energy operates at a capacity of approximately 5.6 EH/s and plans to increase it significantly through these purchases from Bitmain—totaling around five additional EH/s immediately—with further potential expansions based on market conditions and shareholder value considerations throughout next year.
If all miner purchase options are fully utilized, Iris Energy's fleet efficiency could improve dramatically to about 21.9 joules per terahash (J/TH), marking significant progress towards achieving operational excellence within cryptocurrency mining operations as they aim for higher productivity levels across various phases planned until late-2024 completion milestones set forth under current projections outlined during recent announcements made publicly available via official channels like those provided exclusively here today courtesy of our partners over MarketScreener.com who remain committed to delivering timely updates to industry stakeholders worldwide alike!
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