2024

Bitcoin

IREN has achieved a significant milestone in its operational capacity by expanding its hashrate to 30 EH/s in 2024. This expansion marks a critical step in the company’s growth strategy, reinforcing its position as a leading Bitcoin mining operator in the global market, according to <a href="https://ultramining.com/" rel="noopener noreferrer nofollow">Ultramining.com</a>.
The expansion to 30 EH/s is a direct result of IREN’s aggressive infrastructure development and equipment acquisition strategies. Over the past year, the company has invested heavily in state-of-the-art mining equipment, including the purchase of new S21 XP miners, which have significantly enhanced the efficiency of IREN’s operations. These new miners operate at 15 J/TH, making them among the most energy-efficient models available, thus reducing the overall cost of mining while increasing output.
This capacity expansion is not just about increasing the number of miners but also about optimizing the infrastructure that supports them. IREN has focused on building and upgrading its data centers to handle the increased load, ensuring that the expansion is sustainable in the long term. The company’s data centers are now designed to be more flexible and cost-effective, with a focus on reducing bottlenecks and minimizing operational downtime.
IREN’s ability to secure a total of 2,310 MW in power capacity has been a crucial enabler of this expansion. This substantial power supply ensures that the increased hashrate can be fully utilized, allowing the company to maximize its mining output. Moreover, IREN’s commitment to using 100% renewable energy sources aligns with global sustainability goals, positioning the company as a responsible leader in the cryptocurrency mining industry.

IREN Expands Mining Capacity to 30 EH/s in 2024

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