Iris Energy Ltd. (IREN) has released an update.
Iris Energy Ltd., a frontrunner in the next-gen data center industry for Bitcoin and AI, has reported a robust March 2024 performance with 353 Bitcoins mined and a 56% surge in mining revenue to $23.7 million, thanks to an increased operational hashrate of 7.1 EH/s. Their expansion plan is in full swing, aiming for a 20 EH/s rate by the end of 2024, supported by $301 million in cash reserves and no debt. The company’s strategic advancements include deploying NVIDIA H100 GPUs, accelerating data center construction, and progressing negotiations with potential cloud service customers.
For further insights into IREN stock, check out TipRanks’ Stock Analysis page.
