IREN capacity increased by 33% to 28 EH/s

Core Viewpoint - IREN Limited has successfully increased its self-mining capacity to 28 EH/s and is on track to reach 31 EH/s this month, with plans to expand to 50 EH/s by H1 2025, leveraging low electricity costs and efficient operations [1][2][4]. Capacity Expansion - IREN's installed capacity has risen from 21 EH/s to 28 EH/s, achieving a 33% increase following the energization of the Childress Phase 3 substation [2][3]. - The company expects to complete the construction of its data centers and reach 31 EH/s of installed capacity within the month [2][3]. Operational Efficiency - IREN maintains a sufficient inventory of miners to support the 31 EH/s target, with four data center buildings already operational and two more nearing completion [3]. - The all-in cash cost per Bitcoin is approximately $29,000, reflecting the company's best-in-class fleet efficiency and low electricity costs [3][5]. Future Growth Plans - IREN is accelerating its expansion plans to achieve 50 EH/s and 810 MW of data centers by H1 2025, moving the timeline up from H2 2025 [4]. - The expansion includes ongoing construction of Childress Phase 4 and 5, which will add 300 MW of capacity [4]. Technological and Infrastructure Development - The company has secured 2,310 MW of grid-connected power across North America and has a property portfolio exceeding 1,000 acres, supporting its growth strategy [12]. - IREN utilizes 100% renewable energy for its operations, targeting sites with low-cost renewable energy to enhance sustainability [12].