Australian mining company Iris Energy said it plans to increase its hash rate from 5.6 eps to 9.1 eps in 2024.
Iris is now completing the first phase of construction of its data center in Childress, Texas, with an estimated 600 MW of capacity. In addition to Texas, Iris Energy’s data centers are located in the Canadian province of British Columbia.
The company’s management is also considering a 100-MW expansion. This could increase the company’s hash rate to 13.6 eps in the long term. Since the announcement of the expansion plans, the company’s shares have jumped 21% in one day, from $3.55 to $4.14.
In February, Iris Energy said it had nearly tripled the hash rate of its equipment recently. It did so by buying 44,000 new ASIC miners. And last year the company spent $71 million on the purchase of new mining equipment.<br