Iris Energy Boosts Bitcoin Mining

On January 8, 2025, Iris Energy announced a remarkable 450% increase in its Bitcoin mining hashrate, achieving a hardware profit margin of 77%. In December 2024, the company mined 529 Bitcoins, generating $52.1 million in revenue. Iris Energy is set to expand its mining capacity to 50 EH/s by mid-2025, while also enhancing its market position through the installation of nearly 1,900 NVIDIA GPUs for AI and HPC services.