Iris Power to increase hash price in 2024 with $22M Bitmain T21 mining gear order

Eco-friendly Bitcoin (BTC) mining company Iris Power is readied to raise its overall hash price to 10 exahashes per 2nd (EH/s) in 2024 by getting brand-new Bitmain T21 mining gears.

The firm introduced it had actually gotten an extra 1.6 EH/s of Bitmain T21 miners, established for shipment in the 2nd quarter of 2024. The firm presently has 5.6 EH/s of functional capability since December 2023.

The most recent generation of Chinese supplier Bitmain’s mining equipment will certainly additionally enhance the effectiveness of Iris’ procedures from 29.5 joules per terahash (J/TH) to 24.8 J/TH. Iris spent $22.3 million in the most recent order from Bitmain, valuing the equipment at $14 per terahash.

Connected: Iris Power to almost three-way hash price with approximated 44,000 brand-new BTC miners

Iris anticipates to bring 1.4 EH/s of mining outcome by powering up a previous order of Bitmain S21 miners in the initial quarter. It is additionally waiting for a various set of Bitmain T21 miners, enhancing its capability by 1.3 EH/s.

Iris introduced the 80-megawatt (MW) development of its Childress information facility procedure in Texas in June 2023. The firm has actually shown that extra functional capability will certainly be provided from January 2024, enabling the rise in running hash price as much as 10 EH/s as it gets brand-new equipment from Bitmain.

The firm additionally prepares to develop an additional 100 MW of information facilities at the website, which is implemented by supplying an extra 500 MW of power capability that is currently offered to the procedure.

While Iris has actually mostly been concentrated on Bitcoin mining, it has actually increased its information facility to service the expanding need for generative expert system computer. Iris spent $10 million in August to buy 248 cutting edge Nvidia H100 GPUs, which are readied to be provided by the end of 2023.

The firm presently runs information facility facilities in various websites throughout The United States and Canada, consisting of Canal Flats, Mackenzie, Royal Prince George in Canada’s British Columbia and its Childress website in Texas.

Iris cases that its 4 procedures utilize 100% renewable resource, with the information facilities creating power from a mix of wind, solar and hydroelectric resources. A please note on its site keeps in mind that its 3 Canadian websites produce 98% of their power from renewables. The rest of its power usage is balanced out by buying renewable resource certifications.

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