Crypto Miner Iris Energy Plans to Increase its Hashrate from 2 EH/s to 5.5 EH/s

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Australia-based mining company Iris Energy has announced it will increase in crypto mining capacity from 2 EH/s to 5.5 EH/s.

According to the company, it has made a $67 million upfront payment to miner maker Bitmain. With this amount, the company will receive Antminer S19j Pro devices with a total hashrate of 4.4 EH/s.

The firm is considering the sale of surplus contracted equipment. According to the agreements with Bitmain, the total supply is 10 EH/s.

Daniel Roberts, co-founder and CEO of Iris Energy, has said:

“I would like to thank Bitmain for their continued support and partnership, especially during a difficult period for both the industry and the market as a whole. We look forward to continuing our relationship in the long term.”