Fernie Ghostriders

Iris Energy Limited Announces Monthly Investor Update for February 2022

Retrieved on: 
Tuesday, March 8, 2022

SYDNEY, Australia, March 08, 2022 (GLOBE NEWSWIRE) -- Iris Energy Limited (NASDAQ: IREN) (“Iris Energy” or “the Company”), a leading sustainable Bitcoin miner which is building an institutional grade infrastructure platform with 15 EH/s of secured miners (10 EH/s expected to be operational by early 2023), today published a monthly investor update for February 2022, containing its results from operations as well as construction and development updates.

Key Points: 
  • Canal Flats update (0.8 EH/s, 30MW) BC, Canada
    The project achieved monthly average operating hashrate of 844 PH/s in February 2022 (vs. 804 PH/s in January 2022).
  • The 5% increase in hashrate was driven by the installation of new latest generation hardware to replace existing lower efficiency hardware.
  • The first 0.3 EH/s (9MW) remains ahead of schedule with the anticipated operational start date in early Q2 2022.
  • In addition to targeting markets with abundant and/or under-utilized renewable energy, Iris Energy seeks to partner with the local communities in which we operate.