Iris Energy Limited (NASDAQ:IREN) shares are trading higher Friday after the company released its September investor update. Here’s a look at the details from the report.
The Details:
Iris Energy mined 347 Bitcoin (CRYPTO: BTC) in September and achieved a 42% increase in revenue to $21.4 million for the month. The increased revenue reflects the company’s ramp-up in capacity through September which now stands at 21 EH/s installed. The company expects to reach a capacity of 31 EH/s in the fourth quarter of 2024.
Iris Energy reported electricity costs of $23,000 per Bitcoin, a 21% reduction from the previous month, reflective of the company’s improving fleet efficiency.
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