TechFlow reports that Australia-based crypto mining firm Iris Energy has announced another purchase of 1.3 EH/s worth of Bitmain Antminer T21 mining machines, aiming to increase its proprietary mining capacity to 8.3 EH/s.
This pre-order follows similar terms to the one made in October last year, under which 20% of the contract value is due one year after shipment at no additional cost. Both orders are scheduled for delivery in the first quarter of 2024 and will help Iris Energy improve its mining efficiency.
To reach its target of 10 EH/s by the first half of 2024, the company will need to acquire an additional 1.7 EH/s.
Iris Energy now joins the ranks of publicly traded mining companies purchasing the latest generation of Bitcoin miners in preparation for the upcoming Bitcoin halving.
On Monday, Bitfarms announced a purchase agreement for 6.8 EH/s of Bitmain T21 miners, which was warmly received by the market, causing Bitfarms' stock trading volume to surge over the past three days. Iris Energy's shares rose 10% in pre-market trading.
