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Iris Energy Secures 600MW Connection for Texas Bitcoin Mine

Iris Energy Secures 600MW Connection for Texas Bitcoin Mine

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Australian crypto miner Iris Energy (IREN) secured a 600-megawatt connection for a brand new Texas crypto mining facility, the corporate mentioned on Friday.

  • The firm mentioned in a filing with the U.S. Securities and Exchange Commission (SEC) that it has executed a binding connection settlement with utility supplier AEP Texas.
  • Iris Energy paid $19 million for the safety deposit and the connection payment, the submitting mentioned. The knowledge facilities in Texas are anticipated to be energized in Q1 2023, mentioned the miner.
  • Iris Energy has secured a 300 acre freehold web site within the Texas Panhandle, the state’s northernmost area, which will likely be linked on to the grid via a 345kV transmission line, the submitting mentioned.
  • Iris Energy recorded a hashrate of 748 petahash per second (PH/s) in December 2021. It plans so as to add 2.9 EH/s throughout two websites in British Columbia, with mining rigs it has already secured, by the tip of 2022. Another 11.6 EH/s are deliberate for 2023, together with 10.6 EH/s within the Panhandle facility.
  • The firm may add one other 7 EH/s within the Texas facility if it secures extra mining rigs, bringing its whole computing energy to 22 EH/s – nearly 14% of the bitcoin community’s present hashrate.

Read extra: Iris Energy’s December Hashrate Rises 14% as Revenue Falls Again

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