COIN DEAD - Daily Crypto News logo COIN DEAD - Daily Crypto News logo
#
Seeking Alpha 2022-08-09 13:37:12

Iris Energy mines 4.1% more bitcoins in July than prior month

Iris Energy (NASDAQ:IREN) produced 154 bitcoins (BTC-USD) in July vs. 148 in June, though its average operating hashrate slumped at the time. The M/M boost in bitcoin (BTC-USD) production was mostly due to a decline in the average difficulty-implied global hashrate during the period plus one extra operating day in the month, the company said. The decline in the global hashrate suggested higher-cost miners could have left the global bitcoin (BTC-USD) network during the month in a move that allowed lower-cost miners to increase their share of the network. The renewable bitcoin (BTC-USD) miner saw mining revenue for July decrease to $3.4M from $3.6M in the previous month. Electricity costs were $1.4M in July, up from $1.3M in June. Its average operating hashrate fell over 4% to 1,117 petahash per second M/M in July. For its Prince George facility, the first and second data center buildings are substantially complete, and the third building is close to being finished. Overall, the facility remains on track to be energized by the end of September. Earlier this week, (August 8) Iris Energy doubled its operating capacity to more than 2.3 EH/s. 

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.