Iris Energy mines 151 bitcoins in May, boosts average hashrate to 1,165 PH/s

Iris Energy (NASDAQ:IREN) has produced 151 bitcoins in May, up from 137 in April, according to the eco-friendly miner's monthly investor update. The company also increased its average operating hashrate to 1,165 petahashes per second ("PH/s"), a M/M boost of 12%. Its revenue of $4.9M in May compared with $5.4M in the previous month. For construction updates, Iris' (IREN) initial development of Prince George was advanced on the first data center building, with 20 megawatts of capacity. Foundation works for the substation are complete. And Prince George is on track to reach 1.4 exahash per second ("EH/s") by Q3. "The Company remains focused on prudently assessing various options and ensuring that any decisions consider an appropriate long-term capital structure for the Company," it said in a statement. Previously, (May 5) Iris Energy reported 13% growth in April mined bitcoin.