Iris Energy Reports Revenue Growth and Expansion Plans
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Iris Energy (IREN) has released an update.
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Iris Energy reported a 16% increase in monthly revenue for November 2024, driven by rising Bitcoin prices despite a decrease in the number of Bitcoins mined. The company achieved a 33% increase in installed capacity, reaching 28 EH/s, and is preparing for further expansion in AI opportunities with NVIDIA GPUs undergoing testing. Additionally, Iris Energy has increased its convertible notes offering to $440 million, indicating strong investor interest.
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