Iris Energy (IREN) has released an update.
Iris Energy, an industry leader in data center operations for Bitcoin mining and AI cloud services, has released its August 2024 update, highlighting a significant increase in Bitcoin mining capacity and efficiency, alongside a surge in AI cloud services revenue. The company detailed the successful reduction of electricity costs per Bitcoin through a transition to spot pricing, and the expansion of their data center capacity, projecting a total operating and construction capacity of 510MW by the end of 2024. Iris Energy also emphasized ongoing monetization discussions and reported solid corporate financials with a strong cash position and no debt.
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