Iris Energy plans to spend $19.6 million to purchase 7,000 Antminer S21 mining machines

ChainCatcher news, the cryptocurrency mining company Iris Energy has reached an agreement with Bitmain to purchase 7,000 units of the latest generation Antminer S21 equipment for $19.6 million, expected to be delivered in early 2024. Of the total transaction amount, Iris Energy will prepay $16.7 million before shipment and will pay the remaining $2.9 million, with a deferral of up to one year.

Iris Energy plans to deploy the mining machines at its own facility located in Childress, Texas. The data center continues to undergo modernization, aiming to increase its capacity from the current 20 MW to 80 MW.

Iris Energy's short-term plan is to increase the hash rate of this facility to 9.7 EH/s. In the future, this figure is expected to reach 30 EH/s. The Antminer S21 batch will increase Iris Energy's hash rate by 1.4 EH/s. The company also intends to receive Antminer S19 XP equipment from Bitmain.