Bitcoin miner Iris Power income falls 27% in December

Bitcoin mining agency Iris Power reported that its working income declined 27% in December in comparison with the earlier month to $2.1 million — reflecting the primary full month of operations after terminating some internet hosting preparations.

The agency mined 19% much less bitcoin in December, with its common operation hashrate falling 25% to 1,086 PH/s. Working capability elevated 30% over the interval to 1.5 EH/s in that point.

Iris Power mentioned it held $39 million in money on the finish of the calendar yr with no debt.

The investor replace comes after Iris Power unplugged miners that have been used as collateral for $100 million of debt on Nov. 21. Based mostly in Sydney, Australia, the corporate says it makes use of 100% renewable power to energy its mining rigs.