{"id":20422,"date":"2023-02-13T15:57:56","date_gmt":"2023-02-13T23:57:56","guid":{"rendered":"https:\/\/coinnetworknews.com\/iris-energy-boosts-self-mining-capacity-with-4-4-eh-s-of-new-bitmain-bitcoin-mining-rigs-mining-bitcoin-news\/"},"modified":"2023-02-13T15:57:56","modified_gmt":"2023-02-13T23:57:56","slug":"iris-energy-boosts-self-mining-capacity-with-4-4-eh-s-of-new-bitmain-bitcoin-mining-rigs-mining-bitcoin-news","status":"publish","type":"post","link":"https:\/\/coinnetworknews.com\/iris-energy-boosts-self-mining-capacity-with-4-4-eh-s-of-new-bitmain-bitcoin-mining-rigs-mining-bitcoin-news\/","title":{"rendered":"Iris Energy Boosts Self-Mining Capacity With 4.4 EH\/s of New Bitmain Bitcoin Mining Rigs \u2013 Mining Bitcoin News"},"content":{"rendered":"
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Bitcoin miner, Iris Energy, announced plans to increase the company\u2019s self-mining capacity, from 2 exahash per second (EH\/s) to approximately 5.5 EH\/s, after it receives 4.4 EH\/s of new Antminer S19j Pro miners from Bitmain.<\/strong><\/p>\n

Iris Energy Leverages $67 Million in Bitmain Prepayments for Latest Mining Expansion<\/h2>\n

Bitcoin mining company, Iris Energy, announced<\/a> plans to increase its self-mining capacity to 5.5 exahash per second (EH\/s) from 2 EH\/s. The company recently unplugged 3.6 EH\/s of mining rigs in November 2022 after receiving a default notice<\/a> from a lender. To obtain 4.4 EH\/s worth of machines, the company is utilizing approximately $67 million in Bitmain credits.<\/p>\n

The newly acquired S19j Pro mining rigs will be distributed among Iris Energy\u2019s data centers in British Columbia and Texas. If the company finds it has an excess of machines, it will sell them to invest in corporate purposes and growth initiatives. Daniel Roberts, co-founder and co-CEO of Iris Energy, described the latest move as an essential juncture for the bitcoin mining firm.<\/p>\n

\u201cThis is a significant milestone for Iris Energy. We are delighted to have been able to utilize our remaining Bitmain prepayments to acquire new miners without any additional cash outlay,\u201d Roberts said in a statement. \u201cIn doing so, [it] not only increase[s] our self-mining capacity to 5.5 EH\/s, all powered by 100% renewable energy data center infrastructure, but also fully resolve[s] our obligations under our contract with Bitmain,\u201d Roberts added.<\/p>\n

In 2022, bitcoin mining operations faced challenges due to a significant depreciation of BTC<\/a> prices. Some operations went bankrupt during the crypto winter. However, 2023 has seen an improvement in crypto prices, although U.S. regulators have increased enforcement<\/a>, which has temporarily paused the recent rise. As of Monday, February 13, 2023, BTC<\/a>\u2019s price is stable and hovering around its value prior to the FTX collapse.<\/p>\n

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2 EH\/s<\/a>, 2022<\/a>, 2023<\/a>, 5.5 EH\/s<\/a>, Antminer S19j Pro<\/a>, Bitcoin<\/a>, Bitcoin Miners<\/a>, Bitcoin mining<\/a>, Bitmain<\/a>, british columbia<\/a>, BTC Prices<\/a>, Co-CEO<\/a>, co-founder<\/a>, coasting<\/a>, corporate purposes<\/a>, Crypto Winter<\/a>, Daniel Roberts<\/a>, Data Centers<\/a>, depreciation<\/a>, Enforcement<\/a>, Feb. 13<\/a>, FTX collapse<\/a>, growth initiatives<\/a>, Iris Energy<\/a>, miner<\/a>, mining firm<\/a>, Monday<\/a>, rangebound<\/a>, rough year<\/a>, self-mining capacity<\/a>, surplus<\/a>, Texas<\/a>, U.S. regulators<\/a>, upswing<\/a>, watershed moment<\/a><\/div>\n<\/div>\n

What do you think the future holds for bitcoin mining companies like Iris Energy? Share your thoughts in the comments below.<\/strong><\/em><\/p>\n

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\nJamie Redman <\/h6>\n

\nJamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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