Iris Energy (IREN) Provides 5.5 EH/s Installation Update

Iris Energy Limited (NASDAQ: IREN) today provided an update on the installation of its 5.5 EH/s of operating capacity.

5.5 EH/s installation update

Iris Energy is pleased to advise that following commencement of installation of its newly acquired miners (as part of the Company’s recently announced increase in self-mining capacity to 5.5 EH/s), it has increased its operating hashrate to a current level of 2.0 EH/s.

• An additional 0.8 EH/s of miners have been delivered and are in various stages of unboxing, transportation between sites and installation
• The remaining 2.7 EH/s of miners are in transit with progressive deliveries scheduled between now and the end of March (majority expected to be operational shortly thereafter)

160MW of data centers (supporting ~4.9 EH/s) is available immediately, with commissioning of the first 20MW at Childress (supporting the remaining ~0.6 EH/s) expected in the coming months.

Switchyard energized at Childress

The Company is pleased to advise that Salvare Station, the new adjacent switchyard owned by the transmission utility, has been energized, which enables connection of the 600MW Childress project to the grid through AEP.

Completion of the switchyard represents another key project milestone as we near energization of the 600MW bulk substation as well as the initial 20MW data center.

Share acquisition by director

The Company also advises that between March 13, 2023 and March 15, 2023, an entity affiliated with Mr. Michael Alfred, a director on the Company’s Board of Directors, acquired 105,461 of its ordinary shares for consideration of approximately $297,585.

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