Published: April 13, 2023 at 11:20 a.m. ET
By Chris Wack
Iris Energy Ltd. shares were up 15% to $4.21 Thursday after the company said it increased the operating hashrate of its data centers from 3.1 exahashes per second to 3.6 EH/s and that it plans to get it up to 5.5 EH/s.
Shares closed Wednesday’s session down 6% and are down 69% over the past 12 months.
The…
By Chris Wack
Iris Energy Ltd. shares were up 15% to $4.21 Thursday after the company said it increased the operating hashrate of its data centers from 3.1 exahashes per second to 3.6 EH/s and that it plans to get it up to 5.5 EH/s.
Shares closed Wednesday’s session down 6% and are down 69% over the past 12 months.
The Sydney-based bitcoin mining data center operator said 160 megawatts of data centers, supporting 4.9 EH/s, are now available for use immediately, and that all remaining bitcoin miners, supporting the 1.9 EH/s gap between the current 3.6 EH/s and future 5.5 EH/s hashrate levels, have been delivered and will be installed.
The first 20MW of data centers, supporting a hashrate of 0.6 EH/s, is expected to be commissioned at Childress, a bulk power substation.
Iris Energy also said an entity affiliated with board director Michael Alfred bought an additional 75,000 shares for $264,800 between Thursday and Tuesday. Since March 13, the affiliated entity has bought 430,000 shares for $1.3 million.
Write to Chris Wack at chris.wack@wsj.com
