TechFlow news: Bitcoin mining company Iris Energy announced the acquisition of approximately 7,000 of Bitmain's latest-generation S21 miners with a total hashrate of 1.4 EH/s, scheduled for delivery in early 2024. Following this acquisition, its mining capacity will increase from 5.6 EH/s to 7.0 EH/s.
The company expects to fund this acquisition through existing capital sources, including bank cash (approximately $64 million, debt-free), operating cash flow, and other recently disclosed financing plans.
The company’s 80MW expansion in Childress remains on schedule, with data center deliveries expected to begin gradually starting in early 2024.
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