Iris Energy Announces The Acquisition Of 1.6 EH/s of Bitmain T21 Miners To Increase Self-mining Capacity To 10 EH/s
Portfolio Pulse from Benzinga Newsdesk
Iris Energy has announced the acquisition of 1.6 EH/s of Bitmain T21 miners, which will increase its self-mining capacity to 10 EH/s. This strategic move is aimed at expanding the company's Bitcoin mining operations and is expected to enhance its overall mining efficiency and output.
December 15, 2023 | 11:28 am
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Iris Energy's acquisition of Bitmain T21 miners to increase mining capacity to 10 EH/s is a significant expansion of its operations, likely to improve its mining efficiency and output, which could positively impact its financial performance.
The acquisition of additional mining capacity is directly related to Iris Energy's core business of Bitcoin mining. Increasing the self-mining capacity substantially suggests a strategic move to capitalize on the growing cryptocurrency market. This could lead to increased revenue and profitability if Bitcoin prices are favorable, thus potentially having a positive short-term impact on IREN's stock price.
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