IREN increases Bitcoin mining capacity to 40 EH/s, reaffirms 50 EH/s target for H1 2025

Technology

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IREN (NASDAQ:IREN), along with its subsidiaries, today announced a significant update on its Bitcoin mining expansion, revealing it has increased its installed self-mining capacity to 40 exahashes per second (EH/s).

This advancement from the previous capacity of 37 EH/s was achieved through the successful commissioning of additional mining hardware located within its Childress Phase 4 data centers, which operate at 150MW.

"We're proud to have reached 40 EH/s, marking yet another significant step toward our 50 EH/s target," stated Daniel Roberts, IREN Co-Founder and Co-CEO.

He attributed the growth to the team's rapid data center expansion at Childress, combined with the company's efficient fleet and low electricity costs, positioning IREN as a large-scale, low-cost Bitcoin producer.

The company confirmed it remains on track and well-positioned to achieve its target capacity of 50 EH/s during the first half (H1) of 2025.