Iris Energy to double hash rate in 2024 with $22M Bitmain T21 mining rig order

Renewable Bitcoin mining firm Iris Energy is set to increase its total hash rate to 10 exahash per second (EH/s) in 2024 by acquiring new Bitmain T21 mining rigs.

The company announced that it had acquired an additional 1.6EH/s of Bitmain T21 miners, set for delivery in the second quarter of 2024. The company currently has 5.6 EH/s of operational capacity as of Dec. 2023.

The newest generation of Chinese manufacturer Bitmain’s mining hardware will also improve the efficiency of Iris’ operations from 29.5 joules per terahash (J/TH) to 24.8 J/TH. Iris invested $22.3 million in the latest order from Bitmain, pricing the hardware at $14 per terahash.

Related: Iris Energy to nearly triple…

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