Iris Energy and AEP Texas signed power supply agreement for mining

The capacities will be used in the new Iris Energy data center, which will be launched in 2023

24.01.2022 - 07:55

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What’s new? Iris Energy, a major mining company, and AEP Texas, an electricity supplier, have agreed to provide a capacity of 600MW. These will be used to mine bitcoin at a new farm under construction in Texas, US.

$IREN signs transformational 600MW connection agreement with @AEPTexas- 765MW expected power capacity (from 165MW)- 22 EH/s potential #bitcoinmining capacity (from 4.6 EH/s)- 15.2 EH/s execution plan for secured miners now clear- #renewables heavy Panhandle region, Texas— Iris Energy (@irisenergyco) January 21, 2022

What else is known about the deal? Iris Energy plans to increase the capacity of the mining farms from the current 165MW to 765MW. The overall hashrate will increase from 4,6 to 22 EH/s. The new farm in Texas will be located near the town of Panhandle, which is home to a large number of renewable energy sources.

The digital asset mining farm will be completed in late 2022 and connected to electricity in 2023. According to the company’s representatives, the enterprise will use around 530MW as early as next year and will reach a capacity level of around 15,2 EH/s.

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