Summary by Moomoo AI
Iris Energy Limited, operating under the name IREN, announced on February 26, 2024, an update on its expansion plans, aiming to reach a hashrate of 20 EH/s by the end of 2024. The company, which specializes in next-generation data center operations for Bitcoin mining and AI cloud services, reported an increase in operating hashrate to 7 EH/s in the first half of 2024, with the remaining 3 EH/s scheduled for commissioning throughout the same period. The second half of the year is expected to see an additional 10 EH/s from new Bitmain T21 miners, secured through fixed price contracts, and a 200MW expansion at the existing Childress data center. IREN's growth strategy includes expanding its Bitcoin mining capacity, launching AI cloud services with 816 NVIDIA...Show More