Hideo Nakamura Iris Energy Limited, an Australian firm specializing in Bitcoin mining, disclosed on December 15th its plans to receive 8,380 advanced T21 miners from Bitmain Technologies. This strategic acquisition, valued at $22.3 million, is anticipated to significantly bolster Iris Energy’s self-mining capabilities, aiming to reach a target of 10 EH/s (exahash per second).
Enhancing Efficiency with Advanced Mining Equipment
The procurement of the new-generation T21 miners from Bitmain Technologies Delaware Limited is a pivotal step for Iris Energy in enhancing its Bitcoin mining operations. The integration of these T21 miners, alongside the existing S21s, is projected to optimize the efficiency of the company’s mining fleet, reducing the energy expenditure from 29.5 J/TH (joules per terahash) to 24.8 J/TH.
Iris Energy has outlined its schedule for the shipment of these T21 units, with deliveries commencing in the second quarter of 2024. This strategic move is in line with the company’s objective to expand its self-mining capacity.
Additionally, Iris Energy’s ongoing expansion of its 80MW data center in Childress is progressing as planned, with phased delivery starting in January 2024 and extending into the second quarter of the year. This expansion is crucial for supporting the anticipated increase in operational hash rate from the current 5.6 EH/s to the targeted 10 EH/s.
The company has also detailed the financial aspects of this acquisition, with the cost of the Bitcoin mining equipment amounting to $14 per TH (terahash). Payment for this purchase is arranged in staggered installments.
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Frequently Asked Questions (FAQs) about Iris Energy Bitcoin Mining
What is Iris Energy’s recent announcement about Bitcoin mining?
Iris Energy Limited, an Australian Bitcoin mining company, has announced the acquisition of 8,380 new-generation T21 miners from Bitmain Technologies Delaware Limited. This purchase, valued at $22.3 million, is part of their strategy to enhance their mining operations and efficiency.
How will the new T21 miners affect Iris Energy’s operations?
The addition of the T21 miners, alongside the existing S21s, is expected to improve Iris Energy’s overall fleet efficiency, reducing energy expenditure from 29.5 J/TH to 24.8 J/TH. This enhancement is a significant step in optimizing their Bitcoin mining process.
What are Iris Energy’s goals for its mining capacity?
Iris Energy aims to increase its self-mining capacity to 10 EH/s (exahash per second). The acquisition of the T21 miners and the expansion of their 80MW data center in Childress are key to achieving this goal.
When is Iris Energy expecting to receive and deploy the T21 miners?
The shipment of the T21 miners is scheduled for the second quarter of 2024. This aligns with their plan to progressively deliver their data center expansion at Childress from January 2024 through to Q2 2024.
What is the cost of the T21 miners, and how will it be paid?
The total purchase price for the T21 miners is $14 per TH (terahash), amounting to $22.3 million. Iris Energy has arranged to pay for this acquisition in progressive installments.
More about Iris Energy Bitcoin Mining
- Iris Energy Limited Official Website
- Bitmain Technologies Delaware Limited
- Bitcoin Mining Efficiency (Related article on CoinDesk)
