Bitcoin miner Iris Power contemplating attainable mergers and acquisitions alternatives because the agency plots its development plans.
These additionally embody different choices corresponding to “ongoing natural enlargement,” the corporate stated in an announcement Friday.
Final month, it signed a cope with funding banking agency B. Riley for the choice to promote as much as $100 million in odd shares. “The Firm continues to watch funding markets and advance potential capital alternatives,” it stated.
There’s been loads of speak of consolidation within the bitcoin mining business recently, and firms like CleanSpark have already got been leveraging market circumstances to scoop up 1000’s of mining machines at discounted costs, in addition to mining websites.
Iris Power elevated its common working hash price in September by 24% month-over-month to a complete of two.729 exahashes per second (EH/s). On the identical time, it mined 325 BTC, an 8% improve.
The 2 weren’t proportional “because of a rise within the common difficulty-implied international hash price through the interval, which was additionally the first driver behind the rise within the Firm’s electrical energy prices per Bitcoin mined through the month,” the assertion stated.
Mining issue jumped 9.26% on the finish of August, the biggest improve since January. Present estimates level to a different main hike coming subsequent week.
Iris stated that its improvement works throughout Canada, the USA and Asia-Pacific have the potential to assist over 1 gigawatt of energy capability, past the 795 megawatts beforehand introduced.
The corporate has three websites in Canada and one being developed in Texas, which is slated to achieve 600 megawatts, after an preliminary build-out of 40 megawatts. All of them are “powered by 100% renewable vitality,” in line with the corporate.