Iris Energy reports negative electricity costs in August

Iris Energy published a monthly investor update for August, containing its results from operations as well as business updates. Reports: Negative realized electricity costs of ~$0.08/kWh3; Company was effectively paid ~$28k per Bitcoin to take power at Childress and generated a further ~$28k per Bitcoin in mining revenue; 580MW of additional power available at Childress for expansion. Initial purchase of 248 NVIDIA H100 GPUs for ~$10M; Bitcoin mining remains core; next-gen compute represents additional opportunity; Childress construction; Mass grading civil works complete, data center concrete foundation works commenced; Construction remains on track for 20MW to 100MW expansion; Supports hashrate growth from 5.6 EH/s to 9.1 EH/s6.