Iris Energy Limited Accelerates Expansion Amid Bitcoin Bull Market
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Iris Energy Limited is expanding its Bitcoin mining capacity, aiming for 50 EH/s by mid-2025, using 100% renewable energy. The company focuses on sustainability and scalability, with low-cost production at $29,000 per Bitcoin, positioning itself for profitability despite market volatility.
November 28, 2024 | 1:15 pm
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Iris Energy Limited is expanding its Bitcoin mining capacity to 50 EH/s by mid-2025, using renewable energy and advanced hardware. The company aims for low-cost production at $29,000 per Bitcoin, positioning itself for profitability despite market volatility.
The expansion of Bitcoin mining capacity and focus on renewable energy positions IREN for growth and profitability. The low-cost production at $29,000 per Bitcoin enhances its competitive edge, likely boosting investor confidence and stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100