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Bitcoin Miner IREN Hits 50 EH/s Midyear Hashrate Target, Eyes AI Expansion
IREN plans to expand its AI infrastructure at its site in Childress, Texas, with a new data center set for delivery by the end of 2025
Jul 1, 2025, 9:19 a.m.
What to know:
- IREN Limited has reached its mid-year target of 50 exahashes per second (EH/s) installed self-mining capacity.
- The growth from 31 EH/s at the end of last year is "anchored" by IREN's 750MW site in Childress, Texas.
- IREN's attention is now on its new Horizon 1 50MW AI data center at Childress, which it says it set for delivery in Q4 this year.
Australian bitcoin miner IREN (IREN) said it reached its midyear hashrate target of 50 exahashes per second (EH/s) installed self-mining capacity.
The growth from 31 EH/s at the end of last year is anchored by IREN's 750MW site in Childress, Texas, the company formerly known as formerly Iris Energy, said in an announcement on Tuesday.
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Sydney-based IREN's attention is now on Horizon 1, a 50MW AI data center at Childress, which it says it set for delivery in the fourth quarter.
Hashrate is a measurement of the computing power behind the Bitcoin network. The higher a company’s hashrate, the higher its chances of mining new BTC and receiving the rewards that come with it. Rival CleanSpark (CLSK) also reached the milestone of 50 EH/s last month.
"With 50 EH/s of mining expansion complete, we're now turning to our next frontier, leveraging the same execution discipline to scale AI infrastructure across high-growth compute markets," co-founder Daniel Roberts said in the statement.
IREN's Nasdaq-listed shares closed over 4% higher at $14.57 on Monday. They were recently 4.12% lower in pre-market trading.
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