Iris Energy Boosts Mining Capacity With $19.6M Acquisition of Bitmain’s S21 Antminers

The Nasdaq-listed bitcoin mining institution Iris Energy has announced its acquisition of 1.4 exahash per 2nd (EH/s) of Bitmain’s latest S21 Antminers. This acquisition volition summation the company’s self-mining capableness by 25%, from 5.6 EH/s to 7 EH/s.

Nasdaq-Listed Iris Energy Bolsters Mining Arsenal with Latest Next-Gen Mining Rig Purchase

Just implicit 2 weeks ago, Bitmain introduced its S21 bid Antminers, boasting an ratio standing of little than 20 joules per terahash (J/T). Following this, the publically traded bitcoin mining institution Iris Energy, traded connected Nasdaq nether the ticker IREN, confirmed its acquisition of 1.4 EH/s of Bitmain’s S21 miners.

The institution revealed that this acquisition came with a terms tag of $19.6 million, breaking down to $14 per terahash. An further $2.9 cardinal volition beryllium deferred and paid 1 twelvemonth post-shipment. The S21 units volition beryllium stationed astatine the company’s Childress, Texas, location, arsenic elaborate successful their announcement. This caller summation volition elevate their self-mining capableness from 5.6 EH/s to 7 EH/s, marking a 25% increase.

Although Iris didn’t specify the nonstop exemplary of the S21 Antminers they bought, they mentioned the machines’ ratio astatine 17.5 J/TH. This suggests they opted for the air-cooled variant. Given these machines’ capableness of 200 terahash per 2nd and the full acquisition measurement of 1.4 EH/s, it’s probable that Iris acquired astir 7,000 units. The company, present operating astatine 7 EH/s, anticipates a near-future surge to 9.4 EH/s. This is simply a bump up from their earlier projection of 9.1 EH/s.

The Childress information halfway is presently undergoing an enlargement to accommodate 80 megawatts. Iris anticipates the transportation to beryllium completed successful aboriginal 2024. Iris’ determination to get Bitmain’s precocious miners comes arsenic rivals similar Canaan and Microbt unveil their next-generation machines. Additionally, respective mining firms are gravitating toward newer models that connection highest hashrate and efficiency.

For example, Peak Mining precocious inked a $150 cardinal deal with Microbt. Peak, a subdivision of the Northern Data Group, volition get 7 EH/s from Microbt’s Whatsminer M53S+, M53S++, M50S+ and M50S++ models. Canaan has besides showcased its caller liquid-cooled A1466I machine, susceptible of 170 terahash per 2nd with an ratio standing of 19.5 J/T. Microbt is gearing up for the merchandise of its M60 machine, which offers little than 20 joules per terahash, acceptable to motorboat connected October 24.

Iris says its mining operations usage 100% renewable energy, and the institution plans to summation its capableness to 30 EH/s implicit time. So acold this year, Iris shares person risen 150%. However, the IREN shares person fallen 27% successful the past month. The diminution successful IREN’s banal followed a broader downturn successful the cryptocurrency marketplace connected Monday, influenced by tensions successful the Middle East affecting markets.

What bash you deliberation astir Iris purchasing $19.6 cardinal worthy of Bitmain’s caller S21 Antminers? Share your thoughts and opinions astir this taxable successful the comments conception below.