Iris Energy (IREN) reports hashrate increased to 9 EH/s

IREN (Iris Energy Limited) (NASDAQ: IREN) (together with its subsidiaries, "IREN" or “the Company”), a leading next-generation data center business powering the future of Bitcoin, AI and beyond, today provided a business update.

IREN is pleased to announce that its expansion is ahead of schedule and operating hashrate has increased to 9 EH/s. The Company now also expects to achieve 10 EH/s in May 2024.

IREN’s fully funded expansion to 20 EH/s in 2024 remains on track, which will improve nameplate fleet efficiency to 21.9 J/TH.

Furthermore, the Company now expects to commission an additional 50MW of data center capacity as part of Childress Phase 3 this year. This increases planned data center capacity from 460MW to 510MW by the end of 2024.

The additional 50MW of capacity has been enabled partly through a new substation design, as well as ongoing improvement and optimization of the Company’s construction and procurement process.

Childress construction progress (April 2024)

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