Iris Energy Acquires 7,000 Next-Gen T21 Bitcoin Miners in Deal With Bitmain

The Australia-based and Nasdaq-listed Iris Energy precocious announced the acquisition of 1.3 exahash per 2nd (EH/s) capableness successful Bitmain’s latest Antminer T21 models. This acquisition boosts Iris Energy’s proprietary mining capableness to a notable 8.3 EH/s.

Iris Energy Secures 1.3 EH/s successful Latest Bitmain Deal

Iris Energy (Nasdaq: IREN) announced connected Thursday its procurement of 7,000 next-generation T21 bitcoin (BTC) miners from Bitmain Technologies. The deal, amounting to astir $18.6 million, translates to a outgo of $14 per terahash. Bitmain has agreed to postpone 20% of this sum until May 30, 2024, portion Iris Energy plans to settee the equilibrium done structured payments.

At the extremity of October, Bitmain introduced the T21 series, an air-cooled portion boasting up to 190 terahash per 2nd (TH/s) capableness and a 19 joules per terahash (J/T) ratio rating. Iris Energy highlighted that these T21 units’ enhanced ratio ratio volition elevate their full fleet’s show from 29.5 J/TH to 25.8 J/TH.

Concurrently, Iris is advancing an 80 megawatt (MW) enlargement astatine its Childress facility, targeting a 10 EH/s capableness by the 2nd 4th of 2024. “Early works and procurement for the adjacent 100MW of information centers astatine Childress person commenced, with 600MW of full powerfulness disposable connected site,” Iris disclosed connected Thursday.

The latest determination by Iris follows a inclination of large firms securing thousands of mining rigs from Bitmain and Microbt. Earlier successful the month, Hive Digital purchased 4,800 Bitmain S19k bitcoin miners, and Cleanspark obtained 4.4 EH/s capableness successful Bitmain’s caller S21 exemplary Antminers. Moreover, Northern Data’s subsidiary, Peak Mining, has acquired instrumentality from Bitmain’s competitor, Microbt.

In a related determination mid-October, Iris invested $19.6 cardinal successful Bitmain’s S21 Antminers. Following Thursday’s announcement, Iris’ banal saw an approximate 6% rise, with a 43% summation implicit the past 30 days. Year-to-date, IREN shares person soared by implicit 293%, arsenic per information from Tradingview.

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