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Seeking Alpha 2022-08-08 17:03:59

Iris Energy gains on doubling operating capacity to more than 2.3 EH/s

Iris Energy (NASDAQ:IREN) announced it has approximately doubled its operating capacity to exceed 2.3 EH/s as it recently energized the remainder of the first 1.5 EH/s at its second operating site in Mackenzie, BC (Canada), which marks delivery of phase two of the project.The company's next site, in Prince George, BC (Canada), also remains on track to be energized by the end of next month and is expected to add a further 1.4 EH/s, increasing near-term operating capacity to 3.7 EH/s.The company also continues to work through deployment options for its remaining 2.3 EH/s of miners, including the recently announced 1.7 EH/s of Bitmain S19j Pro miners to be shipped in August 2022, increasing expected operating capacity to 6.0 EH/s.

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