IREN has achieved a significant milestone in its operational capacity by expanding its hashrate to 30 EH/s in 2024, marking a crucial step in the company's growth strategy.
Capacity Expansion
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 operate at 15 J/TH, making them among the most energy-efficient models available, thus reducing the overall cost of mining while increasing output.
Infrastructure Optimization
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.
Ensuring Sustainable Growth
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.
The expansion to 30 EH/s in 2024 is a significant step for IREN, enabling long-term growth and sustainability while adhering to high standards of energy efficiency and environmental responsibility.
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