Iris Energy Updates On Capacity Ramp-up; Confirms No Deposits With SVB

March 13, 2023 11:35 AM | 1 min read | Make a Comment

Bitcoin mining company Iris Energy Limited IREN disclosed installing miners regarding its ramp-up to 5.5 EH/s of operating capacity.
Iris also confirmed it does not hold deposits with SVB Financial Group SIVB, Silicon Valley Bank, Silvergate Capital, or Signature Bank.
On Feb. 13, 2023, Iris disclosed increasing its self-mining operating capacity to 5.5 EH/s. Delivery of the remaining miners is likely by the end of March.
About 160MW of data center infrastructure (supporting ~4.9 EH/s) is available immediately, with the commissioning of the first 20MW at Childress (supporting the remaining ~0.6 EH/s) likely in the coming months.
Price Action: IREN shares traded higher by 11.67% at $2.87 on the last check Monday.

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