[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"news-aggregator-iren-advances-toward-50-ehs-ta650191c412-1754-7df9-a054-8e650aed9c79":3},{"id":4,"timestamp":5,"title":6,"content":7,"link":8,"preview":9,"tags":10,"predictedTags":11,"showTags":12,"source":13,"reactions":14,"selfReactions":15,"logo":16,"sourceId":17,"sourceUserId":18,"asset":19,"tagsCategories":20,"totalComments":21,"lang":22,"unique_views_count":21,"enrichStatus":19},"iren-advances-toward-50-ehs-ta650191c412-1754-7df9-a054-8e650aed9c79","1725570937000","IREN advances toward 50 EH/s target as August BTC production climbs","Quick Take\u003Cp>In August, several \u003Ca href=\"https://cryptoslate.com/insights/august-production-update-marathon-digital-holdings-holds-25945-btc/\">publicly traded Bitcoin miners\u003C/a> provided updates on their production and operations.\u003C/p>\u003Cp>\u003Ca href=\"https://www.riotplatforms.com/riot-announces-august-2024-production-and-operations-updates/\">RIOT\u003C/a> reported producing 322 BTC, a 13% decrease compared to July. However, the company increased its Bitcoin holdings by 3%, bringing the total to 10,019 BTC. RIOT’s deployed hash rate stood at 23.5 EH/s, while its operational hash rate was 14.5 EH/s. The lower operational hash rate was influenced by power and demand response credits amounting to $6.4 million. Their total power cost was 2.6 cents per kWh.\u003C/p>\u003Cimg src=\"https://cryptoslate.com/wp-content/uploads/2024/09/btc-20.png\" alt=\"Riot August Update: (Source: RIOT)\" />Riot August Update: (Source: RIOT)\u003Cp>Meanwhile, \u003Ca href=\"https://irisenergy.gcs-web.com/static-files/39fcdc25-a5e1-4163-bded-564aacf0a4e8\">IREN\u003C/a> mined 245 BTC in August, marking a 10% increase month-over-month. The company installed 16 EH/s and remains on track to achieve 30 EH/s by Q4, with plans to reach 50 EH/s by 2025. IREN also reported a significant reduction in electricity costs per Bitcoin mined, from $61,677 in July to $29,958 in August, thanks to a transition to spot pricing. Their AI cloud services continued to grow, with more revenue and customers. IREN remains financially strong, with $405 million in cash and no debt.\u003C/p>\u003Cimg src=\"https://cryptoslate.com/wp-content/uploads/2024/09/btc-21.png\" alt=\"IREN Hash Rate: (Source: IREN)\" />IREN Hash Rate: (Source: IREN)\u003Cp>While \u003Ca href=\"https://investors.corescientific.com/news-events/press-releases/detail/91/core-scientific-announces-august-2024-production-and-operations-updates?utm_campaign=Twitter+Press+Release&utm_source=twitter&utm_medium=social&utm_content=1725538438\">Core Scientific\u003C/a> experienced a 14% drop in production, mining 358 BTC in August, the company reported a total energized hash rate of 25.4 EH/s.\u003C/p>\u003Cp>The post \u003Ca href=\"https://cryptoslate.com/insights/iren-advances-towards-50-eh-s-target-as-august-btc-production-climbs/\">IREN advances toward 50 EH/s target as August BTC production climbs\u003C/a> appeared first on \u003Ca href=\"https://cryptoslate.com\">CryptoSlate\u003C/a>.\u003C/p>","https://cryptoslate.com/insights/iren-advances-towards-50-eh-s-target-as-august-btc-production-climbs/","https://cryptoslate.com/wp-content/uploads/2024/09/btc-21.png","[]","[\"Bitcoin\",\"BTC\",\"BTC\"]","[{\"img\":\"https://toscalepublic.s3.eu-west-2.amazonaws.com/images/coins-lib/full-library/color/BTC.png\",\"name\":\"BTC\"}]","65",[],[],"https://toscalepublic.s3.eu-west-2.amazonaws.com/images/news-feeds/sources/cryptoslate.png","CryptoSlate",null,"","[\"Crypto\"]","0","EN"]