Iris Energy Boosts Mining Capacity and Expands Growth

Iris Energy (IREN) has released an update.

Iris Energy has significantly boosted its self-mining capacity by 33% to 28 EH/s following the energization of its Childress Phase 3 substation, and it plans to reach 31 EH/s within this month. The company is accelerating its growth trajectory, aiming for a 50 EH/s capacity by the first half of 2025, positioning itself as a large-scale, low-cost Bitcoin producer with competitive electricity costs. This expansion underscores Iris Energy’s strategic commitment to enhancing its operational efficiency and market presence in the Bitcoin mining sector.

For further insights into IREN stock, check out TipRanks’ Stock Analysis page.