Iris Energy Strengthens Bitcoin Mining Capacity with Expansion of 39,000 Bitmain Machines

IconCryptoNewsTerminal Staff29 Aug, 2024

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Iris Energy Strengthens Bitcoin Mining Capacity with Expansion of 39,000 Bitmain Machines

Iris Energy (NASDAQ: IREN), a renowned Bitcoin mining organization, has made a significant stride in expanding its mining capabilities by acquiring 39,000 of Bitmain's latest S21 XP Antminer mining machines. This strategic move aligns with the company's ambitious goal of reaching a mining capacity of 30 EH/s by year-end. The acquisition of these advanced mining machines underscores Iris Energy's commitment to driving innovation and efficiency within the Bitcoin mining sector. With the addition of the new machines, the company expects to further optimize its operations and contribute to the overall stability and growth of the Bitcoin network. This move by Iris Energy is a testament to the company's belief in the long-term prospects of Bitcoin mining. As the industry continues to evolve, Iris Energy is well-positioned to maintain its competitive edge by embracing cutting-edge technologies and strategies.

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