Iris Energy (IREN) has brought 41 megawatts of bitcoin mining machines on line in British Columbia more than a month ahead of schedule.
- The addition doubled the company's operating hashrate, or computing power, on the Bitcoin network to 2.3 exahashes/second (EH/s), it said in a press release on Monday. Another 1.4 EH/s, requiring 50 MW of energy capacity, also in British Columbia, is scheduled to be up and running by the end of September, it said.
- Rack space has been a major constraint for bitcoin miners, many of which have received mining rigs but have nowhere to plug them in because of construction delays.
- Iris Energy "continues to work through deployment options for its remaining 2.3 EH/s of miners," including 1.7 EH/s of Bitmain Antminer S19j Pros it bought from Bitmain earlier this month.
- The Nasdaq-listed shares of Iris Energy were up by more than 10% on Monday morning.
UPDATE (Aug. 8, 15:30 UTC): Adds hashrate doubled in first bullet point.