Iris Energy invested $22.3 million in the purchase of 8380 ASICs for Bitcoin mining

Mining company Iris Energy and the Chinese company Bitmain have entered into an agreement for the supply of equipment. Iris Energy is going to purchase 8380 ASICs for $22.3 million. Shipment of the miners is scheduled for the second quarter of 2024.

Australian mining company Iris Energy has placed a pre-order for a new batch of equipment for Bitcoin mining. She plans to increase the hashrate from 5.6 EH/s to 10 EH/s.

The purchase of 8,380 Bitmain miners is part of a plan to increase the company's production performance. The use of the S21 and T21 models is expected to increase overall energy efficiency to 24.8 J/TH.

According to preliminary data, Iris Energy is going to purchase miners from a Chinese manufacturer for $22.3 million. The purchase of equipment will cost the company $14 per TH/s. Shipment of miners is scheduled for the second quarter of 2024.

Let us recall that in October, the Bitcoin miner entered into an agreement with a Chinese manufacturer to purchase 7,000 Antminer S21 for $19.6 million. According to the Hashrate Index , quotes for devices with a level of less than 25 J/TH are $13.54 at the time of writing.

On December 10, Bitcoin mining difficulty decreased by 0.96% for the first time since mid-September. The average hashrate was 463.92 EH/s.

For more information about what this indicator is and what role it plays in the industry, read our article: