Iris Energy Joins CleanSpark, Marathon, Riot In Race For Bitcoin Mining Capacity Milestone By 2025: JPMorgan
Iris Energy Joins CleanSpark, Marathon, Riot In Race For Bitcoin Mining Capacity Milestone By 2025: JPMorgan
The company currently operates at 15 EH/s and plans to double its capacity to 30 EH/s by the end of 2024. The newly set goal of 50 EH/s by 2025, up from a previous target of 40 EH/s, would place Iris Energy among the top U.S.-listed miners, a cohort that includes CleanSpark, Marathon Digital, and Riot Platforms.Iris Energy (NASDAQ:IREN) is charging ahead in the Bitcoin (CRYPTO: BTC) mining arena, setting its sights on a substantial leap in computational power.
摩根大通分析师Reginald L. Smith表示，Iris能源（纳斯达克：IREN）在比特币采矿领域取得了长足的发展，将计算能力大幅提升为主要目标。
According to JPMorgan analyst Reginald L. Smith, the company has an ambitious target to reach 50 exahashes per second (EH/s) by 2025. This would align the company with U.S. mining giants like CleanSpark Inc (NASDAQ:CLSK), Marathon Digital Holdings Inc (NASDAQ:MARA) and Riot Platforms Inc (NASDAQ:RIOT).
根据摩根大通分析师Reginald L. Smith的说法，Iris能源计划在2025年达到每秒50艾哈希（EH/s）的雄心壮志。这将使该公司与美国的采矿巨头如CleanSpark（纳斯达克：CLSK）、Marathon Digital Holdings（纳斯达克：MARA）和Riot Platforms（纳斯达克：RIOT）保持一致。
Iris Energer is "exiting prop power trading after reporting an outsized hedge loss in July," Smith says. This strategic move allows Iris Energy to concentrate on expanding its mining operations, aiming to maintain all-in-power costs within a competitive range of three to four cents per kilowatt-hour.
Smith表示，Iris能源在7月份出现了巨额对冲损失，正在“退出道具电力交易”。这一战略举措使Iris能源能够专注于扩大其采矿运营，旨在将全球电力成本保持在每千瓦时三至四美分的竞争范围内。
The company currently operates at 15 EH/s and plans to double its capacity to 30 EH/s by the end of 2024. The newly set goal of 50 EH/s by 2025, up from a previous target of 40 EH/s, would place Iris Energy among the top U.S.-listed miners, a cohort that includes CleanSpark, Marathon Digital, and Riot Platforms.
该公司目前的运营容量为15艾哈希（EH/s），计划到2024年底将其容量增加一倍，达到30艾哈希（EH/s）。Iris能源将既定目标从40艾哈希（EH/s）上调至2025年的50艾哈希（EH/s），使其成为排名前列的美国上市矿工之一，这一群体包括CleanSpark、Marathon Digital和Riot Platforms。
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Iris Energy Climbs Hashrate Ranks
Iris能源的算力排名攀升
Smith highlights Iris Energy "energized 4.5 EH/s since the end of July."
Smith指出，自7月底以来，Iris能源的计算能力增加了4.5艾哈希（EH/s）。
Today, the company operates 15 EH/s, making it the fifth-largest publicly-listed miner by installed hashrate.
目前，该公司的运营容量为15艾哈希（EH/s），使其成为按安装算力排名第五的上市矿工。
To support this growth, the company is improving its operational efficiency, aiming for a blended fleet efficiency of 15 joules per terahash (J/TH) once it hits 50 EH/s, a significant improvement from its current 19 J/TH.
为了支持这一增长，该公司正在提高其运营效率，旨在达到50 EH/s时的混合舰队效率为15焦耳/太哈希（J/TH），这是相对于其当前的19 J/TH的显著改善。
However, Smith cautions that while reaching 30 EH/s is fully funded, hitting the 50 EH/s target depends on executing ASIC purchase options successfully.
然而，史密斯警告说，虽然达到30 EH/s的目标已经有充足的资金支持，但是否能达到50 EH/s的目标取决于成功执行ASIC购买期权。
Iris Energy's Cloud Services is also booming. The segment's revenue soared to $2.5 million in the fourth quarter, more than doubling quarter-over-quarter. However, not all news was positive.
Iris Energy的云服务也正在蓬勃发展。该部门的收入在第四季度飙升至250万美元，环比增长超过一倍。然而，并非所有的消息都是积极的。
Poolside, one of the firm's "original partners," is not renewing its contract with Iris Energy. This development "surprised us," Smith said.
该公司称泳池边是他们的"原始合作伙伴"之一，但他们不会与Iris Energy续签合同。这一消息"让我们感到意外"，史密斯说。
Despite this setback, Iris Energy is exploring new partnerships. The company is also launching a pilot GPU program at its Childress facility in the second half of 2024.
尽管遇到这一挫折，Iris Energy正在寻求新的合作伙伴关系。该公司还计划在2024年下半年在其Childress设施推出GPU试点计划。
Ambitious, But Achievable
雄心勃勃，但是可以实现。
Financially, Iris Energy is well-positioned, exiting June with $405 million in cash and no debt.
在财务方面，Iris Energy处于良好的位置，在6月份以4050万美元的现金和无债务退出。
However, operating expenses are increasing due to higher employee compensation and SG&A costs. This led to a $10 million sequential decline in adjusted EBITDA to $12 million.
然而，由于较高的员工薪酬和销售总和行政费用，营业费用正在增加。这导致调整后的EBITDA连续下降1000万美元，达到1200万美元。
"The path to 50 EH/s is ambitious but achievable," Smith concludes, citing Iris Energy's strong cash position and focused operational strategy as key enablers of future growth.
分析师认为，实现50 EH/s的目标是雄心勃勃但可实现的。Smith指出，Iris Energy强大的现金实力和专注的运营策略是未来增长的关键因素。
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Image: Illustrated with Midjourney
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