IREN (NASDAQ: IREN), a knowledge heart enterprise specializing in Bitcoin mining, and AI, mentioned in its month-to-month investor replace that it efficiently mined 353 Bitcoins in March.
Bitcoin mining in March
The 353 Bitcoins mined by IREN (Iris Power Restricted) simply forward of the halving season have been made attainable by sustaining a median working hashrate of seven.1 EH/s all through the month.
The rise in mining exercise resulted in a surge in month-to-month mining income, which skyrocketed by 56% to $23.7 million.
IREN additionally introduced absolutely funded growth plans geared toward ramping up its working hashrate to twenty EH/s by 2024.
Half of this growth is already operational as of H1 2024, underscoring the corporate’s dedication to scaling its Bitcoin mining operations to fulfill rising demand and capitalize on market alternatives.
IREN AI cloud providers
IREN showcased its AI cloud providers capabilities on the prestigious NVIDIA GTC occasion.
With poolsideAI’s Co-Founder & CTO taking the stage, IREN highlighted the robustness of its AI choices, leveraging NVIDIA H100 GPUs.
At the moment, IREN operates 248 GPUs, with an extra 568 GPUs present process commissioning.
Negotiations with clients for brand spanking new capability are underway, with expectations that 816 GPUs will generate an estimated $14-$17 million of annualized {hardware} revenue.
IREN knowledge heart capability growth plans
IREN’s knowledge heart capability stands at a powerful 460MW. The corporate is actively pursuing growth initiatives to accommodate its rising operations.
The completion of Childress Part 1, scheduled for H1 2024, will assist the growth to 10 EH/s. At the moment, 60MW of capability is operational, with an extra 40MW underneath building.
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