Australia-based, US-listed bitcoin mining data centre company Iris Energy Limited (NASDAQ:IREN) mined 423 bitcoins in July 2023, generating US$12.66 million in revenues for an average of US$29,939 per bitcoin.
Though one percent fewer bitcoins were mined compared to June, operating revenues increased 9% due to the increase in bitcoin spot prices.
Electricity costs totalled US$6.5 million, equating to US$15,494 per bitcoin, compared to US$13,000 per bitcoin in June.
Iris’ hash rate remained stable at 5,562 PH/s despite extreme temperature fluctuations due to the group’s proprietary air-cooled data centre design.
Iris continued its commitment to 100% renewable energy usage for its bitcoin mining operations, with renewable energy production seeing a steady increase during July.
Throughout the month, the group used 170 megawatts of renewable energy across its data centres.
Onto operational highlights, development works continued across additional sites in Canada, the USA and Asia Pacific, which have the potential to support an additional onbe gigawatt of aggregate capacity that can power growth beyond the company’s 760MW of announced capacity.
On July 18 Iris appointed Sunita Parasuraman to the board. She will also serve as chair of the Audit and Risk Committee.
During her career as a senior technology executive, Parasuraman has built and scaled world-class teams at Meta, VMware, Genentech, and Apple (NASDAQ:AAPL).