Bitcoin

<a href="https://ultramining.com/news/en/iris-energy-diversifies-into-ai-with-10-million-nvidia-gpu-purchase-amid-bitcoin-focus/" rel="noopener noreferrer nofollow">Iris Energy</a> Limited has announced an expansion of its Texas data center, increasing capacity from 600 megawatts (MW) to 750 MW. This expansion follows approval from the Electric Reliability Council of Texas (ERCOT) and an amended interconnection agreement with American Electric Power (AEP), according to <a href="https://news.bitcoin.com/ru/bitcoin-miner-iris-energy-rasshiryaet-proizvodstvennye-moschnosti-v-data-tsentre-texasa" rel="noopener noreferrer nofollow">Bitcoin.com</a>.
The additional 150 MW brings Iris Energy’s total secured capacity to 2,310 MW. The company plans to use 910 MW for <a href="https://ultramining.com/news/en/crypto-miners-shift-gears-ai-is-the-new-gold-rush/" rel="noopener noreferrer nofollow">data centers</a> by 2024, expanding to 1,400 MW by 2026, with further growth exceeding 1 gigawatt (GW) by 2030. Iris Energy uses renewable energy sources for its data centers, which support both Bitcoin mining and artificial intelligence (AI) cloud computing services.
This announcement comes during a tough period for <a href="https://ultramining.com/news/en/russias-bitcoin-gold-rush-mining-machine-influx-outpaces-rest-of-the-world/" rel="noopener noreferrer nofollow">Bitcoin miners</a>, as the network’s <a href="https://ultramining.com/news/en/impending-bitcoin-halving-may-trigger-major-hashrate-decline-say-experts/" rel="noopener noreferrer nofollow">hashrate</a> remained low for several months following the recent <a href="https://ultramining.com/news/en/heat-waves-and-halving-bitcoin-miners-cash-in-amid-rising-prices/" rel="noopener noreferrer nofollow">halving</a>. Like many competitors, Iris Energy has incorporated AI cloud computing into its service offerings. Despite these efforts, the company’s stock (IREN) has dropped 3% over the past five days and more than 10% over the past month.
Operating since 2019, Iris Energy manages over 1,000 acres of land in North America. The expansion at the Childress site signifies the company's commitment to growth and sustainability in the Bitcoin <a href="https://ultramining.com/news/en/texas-residents-challenge-bitcoin-mining-industrys-impact-on-power-grid-and-communities/" rel="noopener noreferrer nofollow">mining industry</a>, especially amid fluctuating market conditions and technological advancements.

Iris Energy Expands Texas Data Center Amidst Bitcoin Mining Challenges

Ultramining_Eng

Other articles published on Jul 25, 2024

WazirX Reports Breach to FIU, Reaches Out to 500+ Exchanges After $235M Hack

Big Meme Coin Movers: DOGE, Raboo, and BONK Volumes Set To Soar

BlockDAG Becomes Crypto Miners’ Choice in 2024 as Presale Crosses $60M, Ahead of Bitcoin and VeCh...

WazirX Launches Massive $23M Bounty to Track Down $234M Stolen Assets

BLOCKLORDS Token LRDS Pumps 148% in 24 Hours Ahead of Coinbase Listing

Ethereum ETFs Surpass $1 Billion in Trading Volume Despite ETH Price Decline On Second Day After ...

Join our free newsletter for daily crypto updates!