{"id":56368,"date":"2022-01-21T18:13:40","date_gmt":"2022-01-21T16:13:40","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=56368"},"modified":"2025-09-04T06:02:15","modified_gmt":"2025-09-04T03:02:15","slug":"iris-energy-to-secure-600-mw-texas-mining-capacity","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/iris-energy-to-secure-600-mw-texas-mining-capacity\/","title":{"rendered":"Iris Energy to secure 600 MW Texas mining capacity"},"content":{"rendered":"<p>The mining company Iris Energy has signed a binding agreement with energy company AEP Texas to connect to the Texas grid for a Bitcoin mining data center with a capacity of 600 MW.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/search?q=%24IREN&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$IREN<\/a> signs transformational 600MW connection agreement with <a href=\"https:\/\/twitter.com\/AEPTexas?ref_src=twsrc%5Etfw\">@AEPTexas<\/a><br \/>\u2014 765MW expected power capacity (from 165MW)<br \/>\u2014 23 EH\/s potential <a href=\"https:\/\/twitter.com\/hashtag\/bitcoinmining?src=hash&#038;ref_src=twsrc%5Etfw\">#bitcoinmining<\/a> capacity (from 4.6 EH\/s)<br \/>\u2014 15.2 EH\/s execution plan for secured miners now clear<br \/>\u2014 <a href=\"https:\/\/twitter.com\/hashtag\/renewables?src=hash&#038;ref_src=twsrc%5Etfw\">#renewables<\/a> heavy Panhandle region, Texas<\/p>\n<p>\u2014 Iris Energy (@irisenergyco) <a href=\"https:\/\/twitter.com\/irisenergyco\/status\/1484500907614412801?ref_src=twsrc%5Etfw\">January 21, 2022<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>This could potentially raise the amount of electricity available to the firm from 165 MW (corresponding to a hash rate of 4.6 EH\/s) to 765 MW (22 EH\/s).<\/p>\n<p>Based on the amount of mining equipment reserved, Iris Energy laid out a plan whereby computing capacity would reach 15.4 EH\/s in 2023, using around 530 MW.<\/p>\n<p>The company is building mining farms in the Canadian province of British Columbia, for which it has already secured power.<\/p>\n<p>The Texas data-centre buildings are planned to be completed by the end of 2022, with electricity connected in the first quarter of 2023.<\/p>\n<p>Iris Energy paid AEP Texas $19 million as a security deposit and upfront payment for the installation of power lines.<\/p>\n<p>The facility will be located in the Panhandle region, Texas, an area with substantial renewable energy resources, the company stressed.<\/p>\n<p>As of writing, Iris Energy operates a single mining centre in British Columbia with a capacity of 30 MW. About 98% of the company\u2019s electricity comes from environmentally friendly hydropower.<\/p>\n<p>As a reminder, in August 2021 the company <a href=\"https:\/\/forklog.com\/en\/news\/iris-energy-applies-for-direct-listing-on-nasdaq\">submitted<\/a> a filing with the <span data-descr=\"Securities and Exchange Commission (SEC) of the United States\" class=\"old_tooltip\">SEC<\/span> for a direct listing on Nasdaq, although previously <a href=\"https:\/\/forklog.com\/en\/news\/green-energy-bitcoin-miner-iris-energy-to-raise-200-million-ahead-of-nasdaq-listing\">was considering<\/a> the option to go public via a <span data-descr=\"special-purpose acquisition company (SPAC)\" class=\"old_tooltip\">SPAC<\/span> deal.<\/p>\n<p>In October, Iris Energy again changed its intention and decided to go public through <a href=\"https:\/\/forklog.com\/en\/news\/australian-crypto-miner-iris-energy-plans-ipo-to-raise-100-million\">the conducting<\/a> <span data-descr=\"Initial public offering (IPO)\" class=\"old_tooltip\">IPO<\/span>. Initially the firm said it planned to raise $100 million in the offering, and then <a href=\"https:\/\/forklog.com\/en\/news\/iris-energy-sets-ipo-hard-cap-at-over-223-3-million\">raised<\/a> the hard cap to $223 million.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The mining company Iris Energy has signed a binding agreement with energy company AEP Texas to connect to the Texas grid for a Bitcoin mining data center with a capacity of 600 MW.<\/p>\n","protected":false},"author":1,"featured_media":56369,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1137,1639,26],"class_list":["post-56368","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-mining","tag-iris-energy","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"33","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/56368","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=56368"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/56368\/revisions"}],"predecessor-version":[{"id":56370,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/56368\/revisions\/56370"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/56369"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=56368"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=56368"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=56368"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}