IREN's 2024 Expansion Plan Has Increased To 30 EH/s; Operating Hashrate Currently 10 EH/s
Portfolio Pulse from Benzinga Newsdesk
IREN (Iris Energy Limited) has announced an increase in its 2024 expansion plan to 30 EH/s, up from the previously planned 20 EH/s. The company has secured Bitmain S21 Pro miners and plans to expand its data center capacity by 50MW at Childress. The expansion is funded through existing cash and other sources.
May 15, 2024 | 8:55 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
IREN has increased its 2024 expansion plan to 30 EH/s, secured Bitmain S21 Pro miners, and announced a 50MW data center expansion at Childress. This accelerated growth is funded through existing cash and other sources.
The increase in the expansion plan and securing of advanced mining equipment indicate strong growth potential for IREN. The additional data center capacity and funding through existing cash suggest a well-supported expansion strategy, likely to positively impact the stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100