Iris Energy Secures $413M For Bitcoin Mining Expansion
Portfolio Pulse from Murtuza Merchant
Iris Energy Limited (NASDAQ:IREN) has secured $413 million to expand its Bitcoin mining operations, increasing its mining capacity to 30 EH/s and data center capacity to 510 MW. The company is also exploring asset sales, colocation agreements, and joint ventures to monetize its power and land portfolio. Iris Energy is committed to 100% renewable energy and has diversified into AI cloud services.
July 02, 2024 | 6:01 pm
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Iris Energy Limited has secured $413 million to expand its Bitcoin mining operations, increasing its mining capacity to 30 EH/s and data center capacity to 510 MW. The company is also exploring asset sales, colocation agreements, and joint ventures to monetize its power and land portfolio.
The significant capital raise of $413 million will enable Iris Energy to expand its Bitcoin mining operations and data center capacity, which is likely to positively impact its stock price in the short term. The company's focus on renewable energy and diversification into AI cloud services further strengthens its growth prospects.
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