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Iris Energy reported significant advancements in Bitcoin mining and AI cloud services for August 2024. The company mined 245 Bitcoins and installed 16 EH/s of mining capacity, with plans to reach 30 EH/s by the fourth quarter. Additionally, Iris Energy is expanding its data center operations, aiming for 510 MW of capacity in 2024.
The update highlights a reduction in electricity costs per Bitcoin, which dropped to $29,958, enhancing profitability. Iris Energy's AI cloud services are also scaling, utilizing 816 NVIDIA H100 GPUs to meet strong customer demand. The company is actively pursuing monetization opportunities and expanding its infrastructure to support future growth.
• Iris Energy aims for 30 EH/s Bitcoin mining capacity by Q4 2024.
• AI cloud services revenue increased, driven by strong customer demand.
Iris Energy's AI cloud services utilize NVIDIA GPUs to meet customer demands.
These GPUs are integral to Iris Energy's AI cloud services, enhancing computational capabilities.
The company is expanding its operations to support increased demand for both Bitcoin and AI cloud services.
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