IREN Ltd Stock Price, News & Analysis

Iris Energy Limited (NASDAQ: IREN) has successfully increased its Bitcoin mining capacity from 4.6 EH/s to 5.2 EH/s as part of its plan to reach a total capacity of 5.5 EH/s. The first 20MW data center at Childress, Texas, is now operational following the energization of the primary substation on April 22, 2023. Installation of the remaining 0.3 EH/s is pending. The company operates 160MW of data centers in British Columbia, supporting approximately 4.9 EH/s. The team thanks local stakeholders for their support throughout the development process. Iris Energy emphasizes its commitment to sustainable Bitcoin mining powered entirely by renewable energy, targeting markets with low-cost energy resources.

Iris Energy Limited (NASDAQ: IREN) has updated its operational capacity, increasing its hashrate from 3.6 EH/s to 4.6 EH/s, with an additional 0.9 EH/s pending installation. The company has also received an $18.4 million refund from AEP Texas, following the energization of its 600MW bulk power substation. Additionally, on April 18, 2023, an entity linked to director Michael Alfred acquired 50,000 ordinary shares for approximately $232,530, increasing total acquisitions since March 13, 2023, to 480,461 shares at a total value of $1.52 million. Iris Energy focuses on sustainable Bitcoin mining, leveraging 100% renewable energy and maintaining long-term infrastructure control.

Iris Energy (NASDAQ: IREN) announced a significant update on its Bitcoin mining operations as of April 13, 2023. The company's operating hashrate has increased from 3.1 EH/s to 3.6 EH/s, contributing to a total capacity of 5.5 EH/s planned. All remaining miners for this capacity have been delivered and are awaiting installation. The 600MW Childress substation was energized on April 6, enhancing the site's connection to the ERCOT grid, with approximately $18 million in deposits expected to be refunded. Additionally, director Michael Alfred's affiliated entity has purchased 75,000 shares recently, bringing total acquisitions to 430,461 shares since mid-March 2023.

Iris Energy Limited (NASDAQ: IREN) reported significant operational progress in its March 2023 update, achieving a 79% increase in operating hashrate to 3.1 EH/s. The company is on track to ramp up to 5.5 EH/s. For March, it mined 173 Bitcoin and generated $4.3 million in mining revenue, reflecting a 22% increase from February. Electricity costs rose by 15% to $2.2 million, with costs per Bitcoin at approximately $12,570. The 600MW Childress substation is near energization, supporting future growth. Additionally, the company appointed new executives and noted a director's purchase of 355,461 shares. An electricity rate update is expected to increase costs by 2%, providing some clarity for operational planning. This update positions Iris Energy favorably as it leverages renewable energy for bitcoin mining.

Iris Energy has updated its installation of 5.5 EH/s of Bitcoin mining capacity, increasing its operational hashrate from 2.0 EH/s to 2.8 EH/s. An additional 2.0 EH/s of miners are delivered and awaiting installation, while 0.7 EH/s are in transit. The company has 160MW of data center capacity available immediately, with 20MW at Childress expected to come online soon. Additionally, director Michael Alfred's affiliated entity acquired 25,000 shares for approximately $75,753, totaling 130,461 shares worth roughly $373,338 since mid-March.

Iris Energy has announced updates on its 5.5 EH/s Bitcoin mining installation. The current operational hashrate stands at 2.0 EH/s, with an additional 0.8 EH/s delivered and 2.7 EH/s in transit, expected to be operational soon. The Childress switchyard has been energized, facilitating the connection of the 600MW project to the grid. Additionally, director Michael Alfred acquired 105,461 shares for around $297,585 between March 13-15, 2023. Iris Energy continues to focus on sustainable practices, using 100% renewable energy to advance its operations in the Bitcoin mining sector.