Australian mining company Iris Energy will raise Bitcoin mining capacity to 10 EH/s after purchasing new miners from Bitmain.
$IREN is pleased to announce it is increasing its self-mining capacity to 10 EH/s
— Acquisition of 1.6 EH/s of @BITMAINtech T21 miners
— $22.3m purchase price ($14/TH)
— Expansion from 5.6 EH/s to 10 EH/s on track
— Improves overall efficiency from 29.5 J/TH to 24.8 J/TH— Iris Energy (@irisenergyco) December 15, 2023
The company has entered into an agreement with the Chinese manufacturer to purchase 8380 Antminer T21 for $22.3 million. Shipments are scheduled for the second quarter of 2024.
The miners will cost the company $14 per TH/s. According to Hashrate Index, market quotes for devices with energy costs under 25 J/TH stand at $13.54 per TH/s at the time of writing.
Iris Energy intends to deploy the new machines at its own facility in Childress, Texas.
In October the company announced the purchase of 7000 Antminer S21 latest-generation devices for $19.6 million.
Earlier, Iris Energy invested $10 million in Nvidia GPUs of the latest generation for building generative AI and mining.
In December, Phoenix Group announced a contract worth $380 million with the Bitcoin-mining device maker under the Whatsminer brand — MicroBT.