Bitmain T21 Mining Rig Order to Double Hash Rate with AI C3 in 2024

AI-Powered Bitcoin Mining Firm to Increase Hash Rate in 2024

Renewable Bitcoin mining firm Iris Energy is set to increase its total hash rate to 10 exahash per second (EH/s) by 2024, with the help of AI-powered Bitmain T21 mining rigs. The company announced that it had acquired an additional 1.6EH/s of Bitmain T21 miners, set for delivery in the second quarter of 2024. Currently, Iris has 5.6 EH/s of operational capacity as of Dec. 2023.

This latest generation of Chinese manufacturer Bitmain’s mining hardware will also improve the efficiency of Iris’ AI-based operations from 29.5 joules per terahash (J/TH) to 24.8 J/TH. Iris invested $22.3 million in the latest order from Bitmain, pricing the hardware at $14 per terahash.

Iris expects to bring 1.4EH/s of mining output by powering up a previous order of Bitmain S21 miners in the first quarter. It is also awaiting a different batch of Bitmain T21 miners, increasing its capacity by 1.3 EH/s.

AI and Machine Learning Expansion

In June 2023, Iris announced an 80MW expansion of its Childress data center operation in Texas. The company indicated that additional operational capacity will be available from January 2024, allowing for an increase in operating hash rate up to 10EH/s with new hardware from Bitmain.

Furthermore, Iris plans to build another 100MW of data centers at the site, made possible by providing an additional 500MW of power capacity. The company has primarily been focused on Bitcoin mining, but has recently invested in generative artificial intelligence (AI) computing, investing $10 million in August 2023 to buy 248 state-of-the-art Nvidia H100 GPUs.

Iris currently operates data center facilities in different sites across North America, including Canal Flats, Mackenzie, Prince George in Canada’s British Columbia, and its Childress site in Texas. With the expansion of AI and machine learning (ML) capabilities, Iris is well-positioned to serve the growing demand for AI computing.

Iris states that its four operations are powered entirely by renewable energy sources, such as wind, solar and hydroelectric, while its three Canadian sites are powered by 98% renewable energy. The remaining energy is offset through the purchase of renewable energy certificates.

Iris claims that its four operations are powered by renewable energy sources, including wind, solar and hydroelectric, with its three Canadian sites powered by 98% renewable energy. The rest of the energy is offset by purchasing renewable energy certificates, making it a leader in the AI Web 3.0, Placer.ai and Sima.ai space.