The Nasdaq-listed bitcoin mining company Iris Energy has announced its acquisition of 1.4 exahash per second (EH/s) of Bitmain’s latest S21 Antminers. This acquisition will increase the company’s self-mining capacity by 25%, from 5.6 EH/s to 7 EH/s.
Nasdaq-Listed Iris Energy Bolsters Mining Arsenal with Latest Next-Gen Mining Rig Purchase
Just over two weeks ago, Bitmain introduced its S21 series Antminers, boasting an efficiency rating of less than 20 joules per terahash (J/T). Following this, the publicly traded bitcoin mining company Iris Energy, traded on Nasdaq under the ticker IREN, confirmed its purchase of 1.4 EH/s of Bitmain’s S21 miners.
The company revealed that this acquisition came with a price tag of $19.6 million, breaking down to $14 per terahash. An additional $2.9 million will be deferred and paid one year post-shipment. The S21 units will be stationed at the company’s Childress, Texas, location, as detailed in their announcement. This new addition will elevate their self-mining capacity from 5.6 EH/s to 7 EH/s, marking a 25% increase.
Although Iris didn’t specify the exact model of the S21 Antminers they bought, they mentioned the machines’ efficiency at 17.5 J/TH. This suggests they opted for the air-cooled variant. Given these machines’ capability of 200 terahash per second and the total purchase volume of 1.4 EH/s, it’s probable that Iris acquired around 7,000 units. The company, now operating at 7 EH/s, anticipates a near-future surge to 9.4 EH/s. This is a bump up from their earlier projection of 9.1 EH/s.
The Childress data center is currently undergoing an expansion to accommodate 80 megawatts. Iris anticipates the delivery to be completed in early 2024. Iris’ decision to acquire Bitmain’s advanced miners comes as rivals like Canaan and Microbt unveil their next-generation machines. Additionally, several mining firms are gravitating toward newer models that offer peak hashrate and efficiency.
For example, Peak Mining recently inked a $150 million deal with Microbt. Peak, a branch of the Northern Data Group, will obtain 7 EH/s from Microbt’s Whatsminer M53S+, M53S++, M50S+ and M50S++ models. Canaan has also showcased its new liquid-cooled A1466I machine, capable of 170 terahash per second with an efficiency rating of 19.5 J/T. Microbt is gearing up for the release of its M60 machine, which offers less than 20 joules per terahash, set to launch on October 24.
Iris says its mining operations use 100% renewable energy, and the company plans to increase its capacity to 30 EH/s over time. So far this year, Iris shares have risen 150%. However, the IREN shares have fallen 27% in the past month. The decline in IREN’s stock followed a broader downturn in the cryptocurrency market on Monday, influenced by tensions in the Middle East affecting markets.
What do you think about Iris purchasing $19.6 million worth of Bitmain’s new S21 Antminers? Share your thoughts and opinions about this subject in the comments section below.
You can get bonuses upto $100 FREE BONUS when you:
💰 Install these recommended apps:
💲 SocialGood - 100% Crypto Back on Everyday Shopping
💲 xPortal - The DeFi For The Next Billion
💲 CryptoTab Browser - Lightweight, fast, and ready to mine!
💰 Register on these recommended exchanges:
🟡 Binance🟡 Bitfinex🟡 Bitmart🟡 Bittrex🟡 Bitget
🟡 CoinEx🟡 Crypto.com🟡 Gate.io🟡 Huobi🟡 Kucoin.
Comments