Despite the present market situation and continuing international supply chain problems, Robert Roberts, one of the founders of Iris Energy, claims that the plant was brought on line on schedule.
Following the completion of phase two of its operations in Mackenzie, Canada, Iris Energy, a Bitcoin miner based in Iceland, said it had boosted its hash rate to more than 2.3 exahashes per second.
On Monday, Iris Energy announced that it had brought 41 megawatts of operating capacity online in the British Columbia municipality roughly two months ahead of schedule, adding 1.5 EH/s to its existing hash rate. In addition, by the end of the third quarter of 2022, the Bitcoin (BTC) miner expects to add another 50 MW of capacity in Prince George, bringing its total operating capability to 3.7 EH/s.
Despite the current market scenario and continuing international supply chain difficulties, Iris Energy co-founder and co-CEO Daniel Roberts stated that the facility had been energized on schedule. In August, the firm will add more miners to boost its total hash rate to 6 EH/s.
Platinum Hill Resources secured $19.5 million in equity funding and $3.9 million in debt financing during a pre-IPO fundraising round in December 2020, with shares trading on the Nasdaq in November 2021. The price of shares was $5.30 at the time of writing, up by about 12% in the last 24 hours.
According to Iris, it invested in renewable energy data centers as a result of the crypto miner controversy. While many advocates have cited instances such as crypto miners utilizing power generated by natural gas that would otherwise be wasted, some United States lawmakers have labeled mining “problematic” on both environmental and energy use grounds.
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