Summary by Moomoo AI
On December 2, 2024, Iris Energy announced a 33% increase in its self-mining capacity, reaching 28 EH/s, following the energization of its Childress Phase 3 substation. The company is on track to achieve 31 EH/s this month, with sufficient miner inventory and ongoing construction of data center buildings.Iris Energy plans to accelerate its expansion to 50 EH/s and 810MW of data centers by H1 2025, earlier than previously scheduled. This growth is supported by the expansion at Childress through Phases 4 and 5, with ongoing earthworks and foundation works.The company positions itself as a large-scale, low-cost producer with an all-in cash cost per Bitcoin of approximately $29k, leveraging best-in-class fleet efficiency and low electricity costs.
