Iris Energy reports 96% M/M surge in Bitcoins mined in August

Iris Energy (NASDAQ:IREN) produced 301 bitcoins (BTC-USD) in August, a 96% jump from just 154 in July. Its average operating hashrate also rose 97% from the prior month to 2,204 PH/s, while monthly operating revenue rose by the same rate to $6.6M.The renewable bitcoin miner's operating capacity guidance increased from 4.3 EH/s to 4.7 EH/s by the end of Q4 2022. Electricity costs were $2.4M in August, up from $1.4M in July.Its average operating hashrate was 2,204 petahash per second in August. The 50MW Prince George facility is on track for energization in September, bringing total expected operating capacity to 3.7 EH/s.Expansion activities at the Mackenzie site from 50MW to 80MW remain on track to finish by end of Q4 2022. An initial 40MW development is planned at the 600MW Childress site.Shares are down over -4% in trading today.