The post Iris Energy Raises $413 Million To Fund Expansion appeared first on Coinpedia Fintech News
Iris Energy, an Australia-headquartered bitcoin mining firm, has recently raised about $413.4 million ̌̌through stock offerings to fund expansion after bitcoin’s halving event. It raised the funds between May 15 and June 28 from the sale of 39.8 million shares. Iris Energy intends to scale up its operations to reach 30 EH/s in hash rate capacity and 510 MW in data center capacities, according to the release. The additional cash buffer would be used for procurement for expansion extending to 2025, future agreements for additional power capacity, and potential power monetization activities.