Bitcoin miner and high-efficiency computing (HPC) firm Iris Vitality Diminutive has secured 10 exahash per 2d (EH/s) of Bitmain’s S21 XP Antminers, positioning the bitcoin mining company to attain 30 EH/s by the cease of 2024.
Iris Vitality Expands Mining Skill and AI Cloud Services
Iris Vitality Diminutive (Nasdaq: IREN) reported file monetary results for the fiscal year ending June 30, 2024, with necessary enhancements all over plenty of metrics. The company completed a file adjusted EBITDA of $54.7 million, a substantial expand from $1.4 million within the outdated year.
This progress become once pushed by a surge in bitcoin mining earnings, which reached $184.1 million, up from $75.5 million in fiscal year 2023. The expand in earnings is attributed to an expanded working hashrate and favorable bitcoin costs. In its operational highlights, Iris Vitality additional published that it had elevated its self-mining skill from 5.6 EH/s to 10 EH/s all over the fiscal year.
The company’s transition to explain pricing for electricity in August 2024 is anticipated to optimize its energy expenses, additional bettering profitability. Iris Vitality’s contemporary aquire of 10.5 EH/s of Bitmain S21 XP Antminers supports its draw of carrying out 30 EH/s by the cease of 2024, with the first shipments scheduled for October and November.
Iris secured the miners at a aquire tell heed of $21.5 per terahash, with 20% of the rate deferred until 9 months after transport. Making an try forward, Iris Vitality is rarely any longer handiest focusing on bitcoin (BTC) mining however is furthermore persevering with to explore opportunities within the synthetic intelligence (AI) cloud companies market. The company has secured 816 Nvidia H100 GPUs to elongate its AI offerings, generating $3.1 million in earnings in FY24.
What carry out you watched about Iris securing a new batch of miners from Bitmain and new Nvidia GPUs? Half your thoughts and opinions about this field within the comments part below.
