Bitcoin (BTC) miner Iris Energy IREN shares have jumped by almost 20% following information of its deliberate 9.1 exahashes/second (EH/s) expansion.
Data from Nasdaq reveals that miner shares rose to $4.09 from $3.53 throughout early buying and selling hours of June 20.
Expansion plans
According to a July 20 press assertion, Iris plans to develop its capability by 63% to 9.1 EH/s by early 2024 and revitalize its high-performance computing (HPC) knowledge middle technique.
Iris acknowledged that it has began constructing Phase 1 of its Childress facility in Texas. This will add 80 MW to its knowledge facilities, rising the capability to 9.1 EH/s1 by early 2024.
Additionally, the miner stated that it has continued to buy lengthy lead gadgets that might help the development of a 100-megawatt (MW) facility for its Childress Phase 2, pushing its knowledge middle capability to 13.6 EH/s. The miner didn’t give a time-frame for this development.
“Near-term focus remains on data center construction, whilst retaining flexibility on timing for miner purchases, which is subject to funding and market conditions.”
The miner added that it stays nicely capitalized with $64 million in money and working cashflows from its present 5.6 EH/s, including that it has no debt.
High-performance computing
Iris additional revealed that its earlier HPC knowledge middle technique is now a parallel focus. It signed a strategic memorandum of understanding with Dell Technologies in March 2020 to discover and develop energy-efficient knowledge middle options for compute-intensive functions.
Iris stated latest developments throughout the area and its discussions with market contributors had validated these earlier works, including that “the time may be right to expand into this sector.”
The miner added that this might contain leveraging its 4 operational websites and numerous portfolio of extra international areas presently being developed.
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