(NewsDirect)

Iris Energy Ltd
(NASDAQ:IREN) co-founder and CEO Daniel Roberts sits down with
Proactive’s Elisha Newell to introduce the company’s sustainable
Bitcoin mining vision.

Iris’ business model revolves around using low-cost, 100%
renewable energy to scale its mining operations, with 428 Bitcoin
mined over June 2023.

As the Bitcoin industry continues to grow, Daniel says the
focus is on expanding and developing new Bitcoin mining sites and
pursuing value-accretive opportunities.

“We set out with a vision to not just use
100% renewable energy, but target excess stranded renewables, as we
know governments around the world are incentivising the mass build out
of wind and solar, and often it’s in markets where there’s not
enough demand for this power,” he told Proactive on Friday.

“And further to that, the intermittent
nature of this renewable generation is wreaking havoc on energy
markets. We give that power back to the market now, when power prices
go negative and we’re actually paid to take power.”

Contact
Details

Proactive Investors

Jonathan
Jackson

+61 413 713 744

jonathan@proactiveinvestors.com

Copyright (c) 2023 TheNewswire – All rights reserved.