Iris Energy (IREN) has released an update.
Iris Energy Limited (IREN), a pioneering data center operator in the Bitcoin and AI sectors, has announced that its 2024 expansion is fully funded, boasting $425.3 million in cash reserves and no debt, ensuring the company’s operational growth and additional financial flexibility. The company is actively exploring various monetization strategies for its extensive power and land portfolio, including asset sales and joint ventures, particularly focusing on a significant 1,400MW project in West Texas. IREN, operational since 2019 and utilizing 100% renewable energy, is set to expand its Bitcoin mining capacity to 30 EH/s and its data center operations to 510MW by 2024, while also offering AI cloud services with the latest technology.
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