Bitcoin

<p>In a major cost-saving breakthrough, Iris Energy has successfully reduced its electricity cost for mining a single Bitcoin from $61,677 in July to $29,958 in August. This reduction followed the closure of energy hedge contracts, which allowed the company to capitalize on lower spot market prices and optimize its operations.</p>
<p>This dramatic decrease in energy costs highlights Iris Energy's ability to adapt to fluctuating market conditions and maintain profitability even as network difficulty increases. The company's strategic focus on reducing operational costs while maintaining high mining efficiency puts it in a strong position to compete in the increasingly competitive Bitcoin mining landscape. By continuing to optimize energy consumption, Iris Energy is ensuring that it can remain a key player in the industry, even as mining margins tighten.</p>

Iris Energy Cuts Electricity Costs for Bitcoin Mining from $61,677 to $29,958 per BTC in August

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