Iris Energy Exploring Acquisitions And Mergers After Recent Capital Gain
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Iris Energy To Monitor Financial Markets
Iris Energy agreed last month to grant investment banking company B. Riley Financial Inc. the opportunity to sell up to $100 million worth of common shares. According to the statement, the company maintains an eye on financial markets and advances potential finance alternatives.
Recently, there has been a lot of discussion about the Bitcoin mining sector consolidating, and businesses like CleanSpark have already taken advantage of market circumstances to acquire mining sites and thousands of mining equipment at heavy discounts.
The Difference In Energy Boosted
Iris Energy boosted its monthly average functioning hash rate by 24% in September, resulting in a total of 2.729 exahashes per second (EH/s). It mined 325 BTC concurrently, an 8% increase.
The statement noted the difference resulted from a rise in the average difficulty-implied worldwide hash rate throughout the period, which was also the primary factor behind the improvement in the company's electricity expenses per Bitcoin mined during the month.
At the end of August, the mining difficulty increased by 9.26%, the most since January. According to current projections, a significant rise would occur the following week.
Developments Projects Of Iris
In addition to the previously disclosed 795 megawatts of power capacity, Iris stated that its development projects in Canada, the USA, and Asia-Pacific have the potential to generate over 1 gigawatt of power capacity.
The company operates three locations in Canada and one in Texas, which is now under development and will eventually reach 600 megawatts after starting at 40 megawatts. According to the firm, they are all powered by 100% renewable energy.