Iris Energy Accelerates Bitcoin Mining Expansion

Iris Energy (IREN) has released an update.

Iris Energy, a low-cost Bitcoin mining firm, has announced its Q1 FY25 results, highlighting a strategic focus on expanding its mining capacity to 50 EH/s by mid-2025. Despite facing challenges with increased network difficulty and Bitcoin price fluctuations, the company is leveraging strong operating cash flows and alternative funding to potentially support investor distributions next year. Additionally, Iris Energy is enhancing its AI Cloud Services, showcasing its commitment to growth and innovation.

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