Iris Energy, an Australia-headquartered bitcoin mining firm, has raised $413.4 million through stock offerings to fund its expansion following bitcoin’s halving event. The funds were raised between May 15 and June 28 from the sale of 39.8 million shares. With $425.3 million in cash reserves and no debt, Iris Energy plans to scale up its operations to reach 30 EH/s in hash rate capacity and 510 MW in data center capacities. The company aims to use the additional funds for future expansion, power capacity agreements, and potential power monetization activities.
