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IRIS Price   

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IRIS Price:
$2.7 M
All Time High:
Market Cap:
$44.9 M

Circulating Supply:
Total Supply:
Max Supply:


The price of #IRIS today is $0.033 USD.

The lowest IRIS price for this period was $0, the highest was $0.033, and the current live price for one IRIS coin is $0.03349.

The all-time high IRIS coin price was $0.31.

Use our custom price calculator to see the hypothetical price of IRIS with market cap of ETH or other crypto coins.


The code for IRISnet crypto currency is #IRIS.

IRISnet is 4.8 years old.


The current market capitalization for IRISnet is $44,881,936.

IRISnet is ranking upwards to #430 out of all coins, by market cap (and other factors).


The trading volume is big during the past 24 hours for #IRIS.

Today's 24-hour trading volume across all exchanges for IRISnet is $2,707,851.


The circulating supply of IRIS is 1,340,105,194 coins, which is 61% of the total coin supply.


IRIS is a token on the Osmosis blockchain.


IRIS is available on several crypto currency exchanges.

View #IRIS trading pairs and crypto exchanges that currently support #IRIS purchase.


Note that there are multiple coins that share the code #IRIS, and you can view them on our IRIS disambiguation page.



IRISnet Monthly Update (2023.07)

2023.07 — Technology & Ecosystem & Community Recap. — 🌈IRISgardians, IRISHUB monthly digest is here! Catch highlights: ▶️ The AVATA Global One-click Cross-chain Service is now live on IRISHUB ▶️ IRISHUB has onboarded numerous web3 applications utilizing the AVATA Global API Service ▶️ The Game of NFTs was officially wrapped up ▶️The Cosmos/IRISHUB tech-based enterprise-level product IRITA Has aced industry evaluations … Read on for details! — ⭐Technical Updates⭐ - — Irishub. — 1. Completed the adaptation of the upgrade to cosmos-sdk v0.47.4. 2. Complete the adaptation of the relevant dependencies to cosmos-sdk v0.47.4. — ⭐Ecosystem Updates⭐ - — The AVATA Global One-Click Cross-chain Service is Live on IRISHUB. — On July 11, IRISHUB introduced the AVATA Global One-click Cross-chain Service. The new feature enables seamless NFT interoperability between IRISHUB and Ethereum, opening up new horizons for distributed business applications and global commerce. AVATA Console Link: AVATA Global API Service was developed by Bianjie, the long-term contributor to the Cosmos Interchain tech stack (the latest result being ICS-721) and the core dev team of IRISHUB. Since its introduction, AVATA Global has assisted numerous Web2 enterprises in their transition to the Web3 landscape. Notable platforms including NFTChina.HK, EartL...

Game of NFTs - WRAP UP

The Interchain NFTs storm is sweeping. — Spanning five months of rigorous network security testing and an Interchain Hackathon, the Game of NFTs (GoN) event has reached its grand finale! In the testnet phase, 198 teams participated across five different chains’ testnets, putting the robustness and capabilities of Interchain NFTs technology to the test. In the hackathon phase, over 60 projects innovated to unlock the magic of Interchain NFTs in various use cases. The event has been an extraordinary showcase of talent, creativity, and collaboration within the interchain ecosystem. — Celebrating winners of Interchain Hackathon 🏅. — With the conclusion of the Interchain NFT Hackathon, the event encompassed various tracks and special awards, attracting a plethora of talented participants who showcased their creativity through submissions. The diverse range of projects encompassed applications spanning NFT rentals, leasing, NFT-fi, ticketing, and toolings like browsers, CLI tools, and more.🏆 Meet each track’s winners: Cosmos Hub Track Winners, IRISnet Track Winners, Stargaze Track Winners, Uptick Track Winners, OmniFlix Track Winners, and AWS Activate Special Award. “I am thrilled to see these brilliant innovations, showcasing the immense potential of Interchain NFTs” stated Harvey Xi from IRISnet, adding:“I eagerly anticipate how these projects will shape the future of NFTs and contribute to ...

IRISnet Monthly Update (2023.06)

2023.06— Technology & Ecosystem & Community Recap. — 🌈IRISgardians, IRISHUB monthly digest is here! Catch highlights: ▶️Game of NFTs has been concluded! IRISHUB track winners announced! ▶AVATA Global went live on IRISHUB, ready to power the adoption of blockchain tech and Interchain NFTs ▶️OKX Wallet has supported IRISHUB dApp ecosystem, submit your project to gain visibility! ▶️IRISHUB went live on TFM IBC Bridge ▶️ChainIDE has completed the 1st milestone for integrating the multichain tooling platform on IRISHUB, and is applying for community pool support for its work … 👇Read on for details! — ⭐Technical Updates⭐ - — Irishub. — Reviewed all entries under the IRISHUB track in the Game of NFTs Interchain Hackathon., Completed the development of the beta version of nft-transfer supporting the cross-chain transfer of ERC721 Tokens on EVM., Completed the development of the beta version enabling the conversion between EVM’s ERC721 Tokens and Cosmos Native NFT assets., Upgraded to irishub2.0.3, — ⭐Ecosystem Updates⭐ - — The Game of NFTs Hackathon Has Successfully Concluded — IRISHUB Track Winners Announced!. — On June 19, the submission channel for the Game of NFTs was officially closed, marking the thrilling conclusion of this long-lasting game. The game was initiated by Bianjie, the creator of the ICS-721 Interchain NFT spec and the...

IRISnet Monthly Update (2023.04–05)

2023.04–05 — Technology & Ecosystem & Community Recap. — 🌈IRISgardians, IRISHUB monthly news digest is here! Catch some highlights📸: ▶️The registration & entry submission period for Game of NFTs Phase-2 Interchain Hackathon is extended to June 19, register and submit your entry to compete for rewards! ▶️IRISHUB partnered with Hamster to provide one-stop EVM toolkit and middleware for a better building experience. ▶️IRISHUB Announced Partnership with SAO Network to Jointly Build the NFT Future. ▶️IRISHUB governance proposals #40, #42 have passed; new draft proposal is revealed for community discussion, check out and give your opinion. … 🔻Read on for details! — ⭐Technical Updates⭐ - — Irishub. — improving and enhancing the nft-transfer feature, updating the IRISHUB test chain for GoN Interchain Hackathon using the new-version nft-transfer feature, designing nft-transfer to support multi-port integration, in order that ERC721 assets on EVM-integrated chains can be cross-chain transferred using the nft-transfer feature, — ⭐Ecosystem Updates⭐ - — Game of NFTs — Progress Report. — 🔥🔥🔥GoN Phase 2 Interchain Hackathon is ongoing! On April 26, the entry submission channel for GoN phase-2 Interchain Hackathon was open, participants can now submit their Interchain NFT projects through the event website and compete in the t...

New Collaboration! | Hamster to Empower IRISHUB Builders with One-stop EVM Development Toolkit

IRISHUB builders, enjoy easy-to-use and cost-effective EVM development tools and resources brought by Hamster!. — We are thrilled to announce the partnership between Hamster and IRISHUB — A collaboration aims to quickly onboard and empower IRISHUB developers through an extensive set of EVM tools and middlewares provided by Hamster. Hamster is a one-stop toolkit and middleware platform for Web3 Developers. By streamlining development, deployment, and more with cost-effective, automatic processes, Hamster allows developers to focus on the core functionality of their dApps, ensuring faster time-to-market and efficient resource utilization. — How Will Hamster Support IRISHUB Builders? - With the successful mainnet upgrade in April, IRISHUB 2.0 now features integrated EVM capabilities for developers to effortlessly build dApps using EVM smart contracts. This collaboration with Hamster promises to provide even powerful support for EVM builders, and will further boost the IRISHUB ecosystem. In short, this collaboration allows IRISHUB builders to: Quickly develop and deploy EVM smart contracts on IRISHUB., Access a vast array of tools and resources to help their dApps succeed in the rapidly evolving Web3 landscape., — Get Started with Hamster - First, check out the general guide to get familiar with basic operations of the Hamster platform. Video guide: You can also follow the step-by-step guid...

Game of NFTs — Phase 1 Wrap-Up & Phase 2 Updates

Game of NFTs — Phase 1 Wrap-Up & Phase 2 Updates - — Celebrate Achievements, Tackle New Challenges, and Join the Ongoing Interchain Hackathon!. — Dear Cosmonauts! Phase 1 of the Game of NFTs event has come to a successful conclusion! Our journey so far has been nothing short of extraordinary, with 198 teams exploring the vast expanse of 5 testnets, unlocking the potential of Interchain NFTs. — Testnet Achievements 🌟 - Throughout the public incentivized testnets, participants diligently completed 29 tasks and tackled 2 challenges, vying for 6 prestigious contribution prizes across 3 stages of the incentivized testnet, pushing the boundaries of Interchain NFTs. Invaluable discoveries were made as participants identified potential vulnerabilities and bugs before the technology is used in production. Participants made significant contributions by identifying potential vulnerabilities and bugs. Among the issues discovered was a critical vulnerability that could have allowed an attacker to take control of NFTs. This issue has since been fixed and resolved in the implementation. Another bug related to a recursive loop in the CosmWasm implementation of ICS-721 was also found, potentially causing transactions and transfers to get stuck. In response, 2 relevant challenges were added, inspiring talents to actively propose innovative solutions such as filtered relaying, ts-relayer adaptio...

Announcing the Game of NFTs - Interchain Hackathon

Join us for this exciting virtual hackathon that brings together developers, industry leaders, and sponsors for an unparalleled event in the world of Interchain NFTs!. — With the conclusion of the Game of NFTs testnet, the Interchain Hackathon is now open for registration and submissions! 🚀Register & Submit Your Project Now!🚀 Backed by the Interchain Foundation, organized by Bianjie, this exceptional event is designed to inspire developers to craft groundbreaking solutions and innovations using Interchain NFTs. Chains including Cosmos Hub, IRISnet, Stargaze, Uptick, and OmniFlix are sponsoring the event, each with their own challenge tracks, while Amazon Web Services (AWS), IDG Capital, and HashKey Capital have pledged their support. The event has also garnered support from communities and tools like DoraHacks, Hamster, and others, providing us with useful resources and opportunities. Check out the impressive lineup of prizes for the challenge tracks: 🏆 Cosmos Hub Track · 1st Place: 2,750 ATOM · 2nd Place: 1,250 ATOM · 3rd Place: 500 ATOM 🏆 IRISnet Track · 1st Place: $25k in IRIS · 2nd Place: $15k in IRIS · 3rd Place: $10k in IRIS 🏆 Stargaze Track · 1st Place: $25k in STARS · 2nd Place: $15k in STARS · 3rd Place: $10k in STARS 🏆 Uptick Track · 1st Place: 150,000 UPTICK · 2nd Place: 120,000 UPTICK · 3rd Place: 90,000 UPTICK · 4th-5th Places: 30,000 UPTICK each · 6th-9th Places: 20,0...

IRISnet Monthly Update

2023.02–03 — Technology & Ecosystem & Community Recap. — 🌈IRISgardians, IRISHUB monthly news digest is here! Catch some highlights📸: 🔯IRISHUB 2.0 mainnet upgrade was completed, learn new features and how to deploy EVM smart contract on IRISHUB! 🔯 Game of NFTs Phase-2 Interchain Hackathon is now open for registration! Check out the event page and sign up! 🔯Game of NFTs Phase-1 Incentivized testing was concluded, check out the winner list here. … 🔻Read on for details! — ⭐Technical Updates⭐ - — Irishub. — Developed irishub v2.0 - Supported EVM - Upgraded to cosmos-sdk v0.46.9 - Upgraded to tendermint v0.34.26, Game of NFTs - Fixed nft-transfer issues discovered in phase 1 incentivized testing, — ⭐ Ecosystem Updates ⭐ - — New Milestone Achieved! — IRISHUB 2.0 is Live with EVM Integration!. — This landmark mainnet upgrade brings alive the much-anticipated EVM feature! With the new fee token ERIS and the full support for EIP-1559, IRISHUB 2.0 optimizes the current IRIS tokenomics by improving the gas fee burning and distribution mechanisms. It’s worth mentioning that the whole upgrade process only took about 1 hour, a surprisingly short period, due to the prompt response of our validators, node operators and service providers, you’re the best! References: 🔖 IRISHUB 2.0 Upgrade: EVM Support and More 🔖 IRISHUB 2.0 Upg...

A Comprehensive Developer’s Guide for EVM Smart Contract on IRISHUB

— Dive into the guide and transform infinite possibilities into reality!. — Dear IRISgardians, With the successful upgrade, IRISHUB 2.0 is now featuring integrated EVM capabilities for developers to effortlessly build dApps using EVM smart contracts. The first ERC-721 smart contract and its accompanying NFT have already been issued on IRISHUB. Now it’s your turn to innovate. Our all-inclusive developer guide will teach you how to harness IRISHUB’s EVM compatibility to create next-gen dApps. Dive into the guide and transform infinite possibilities into reality! — Developer Guide Overview - Embrace the ease of constructing and deploying EVM smart contracts with IRISHub to create the foundation for your dApps. With full EVM compatibility, IRISHUB grants you access to familiar tools (e.g., Solidity, Remix, and Oracles) and APIs (like Ethereum JSON-RPC) from the EVM ecosystem. Capitalize on the inherent interoperability of Cosmos chains, as IRISHUB lets you develop scalable cross-chain applications in a well-known EVM environment. Explore the essential components for building and deploying EVM smart contracts on IRISHUB in our comprehensive guide below. Part 1: Build Smart Contracts with Solidity Part 2: Prepare an Account for EVM Integration Part 3: Deploy Smart Contracts Using Remix Unlock the full potential of EVM smart contract development on IRISHUB today! — Part 1: Build Smart Contracts with So...

IRISHUB 2.0 Mainnet Upgrade Completed

— With the passage of IRISHUB mainnet upgrade proposal#39, the IRISHUB 2.0 is finally here🛸. — IRISgardians, The IRISHUB 2.0 with EVM support to unlock diverse smart contracts and dApps is finally here! Starting at block height 19514010, the IRISHUB 2.0 upgrade was just completed at around 07:00:00 UTC on April 17, 2023, an impressively short process of just 1 hour! Shout out to all node operators and service providers for their continuous support! You can check out previous releases for the complete info and guide for this upgrade: 🔖 IRISHUB 2.0 Upgrade: EVM Support and More 🔖 IRISHUB 2.0 Upgrade: Get Ready for EVM Integration 🔖 IRISHUB 2.0 Mainnet Upgrade | Pre-Announcement 🔖 Mainnet upgrade proposal#39 🔖 Upgrade process doc — Feature Review - — 🚀EVM integration. — With the much-anticipated EVM integration, IRISHUB 2.0 enables the integration of EVM-based smart contracts and dApps into the IRISHUB ecosystem. Supported by a mature and well-established ecosystem, the EVM integration will bring a wealth of resources for IRISHUB builders to create more diverse dApps and use cases. — 💲New Fee Token Unveiled!. — Alongside EVM, IRISHUB 2.0 introduces a new fee token — “ERIS”, for EVM transactions, which is created by converting IRIS at a conversion rate of 1:1. Customized to fully support EIP-1559, the EVM in IRISHUB 2.0 ensures that a significant portion ...


Iris Energy Boosts Bitcoin Mining Capacity to 6 EH/s, Eyes 20 EH/s Miles...

    According to an announcement from the publicly-listed bitcoin miner Iris Energy, the mining operation has increased its operating capacity to 6 exahash per second (EH/s) and expects an additional 4 EH/s to be online by the first half of 2024.Iris Boosts Mining Capacity to 6 EH/s Amidst IREN Share Dip ??The announcement on Tuesday from Iris Energy (Nasdaq: IREN) highlighted the growth of its mining operations to 6 EH/s, following the deployment of new mining hardware. Over the last six months, Iris has reported several purchases of application-specific integrated circuit (ASIC) mining rigs. Notably, in October 2023, the company disclosed the acquisition of Bitmain S21 Antminers worth $19.6 million. This was followed in November by the purchase of 7,000 T21 Antminers from the ASIC manufacturer. Additionally, in December, Iris announced the acquisition of another 8,380 T21 Antminers from Bitmain. Iris Energy is projecting an increase in its mining operations, expecting an additional 4 exahash per second (EH/s) to become operational by the end of the first half of 2024. The company also emphasized its trajectory towards achieving a 20 EH/s target by the latter half of 2024. This ambitious goal comes on the heels of a significant acquisition – a purchase and fixed price option agreement for an extra 10 EH/s of Bitmain T21 miners. Shares of IREN have not performed as strongly as they did in 2023, experiencing a notable decline of 47.2% against the U.S. dollar since the star... read More

Australian Bitcoin Miner Iris Energy Set to Acquire 8,380 New-Generation...

    Bitcoin mining company Iris Energy Limited said on Dec. 15 that it expects to take delivery of 8,380 new-generation T21 miners from Bitmain. Delivery of the mining machines is expected to help Iris Energy fulfill its goal of increasing its self-mining capacity to 10 EH/s (exahash per second).Acquisition to Improve Overall Fleet Efficiency The Australian Bitcoin mining company Iris Energy Limited announced on Dec. 15 that it is set to acquire $22.3 million worth of 8,380 new-generation T21 miners from Bitmain Technologies Delaware Limited. Once installed, the T21s, together with S21s, are expected to improve the Bitcoin miner’s 'overall fleet efficiency from 29.5 J/TH to 24.8 J/TH.' In a statement, Iris Energy said the shipment of the T21s is scheduled for the second quarter of 2024. Delivery of the mining machines is expected to help Iris Energy fulfill its goal of increasing self-mining capacity. 'The company’s 80MW data center expansion at Childress remains on track to be progressively delivered from January 2024 through to Q2 2024, supporting the increase in operating hash rate from 5.6 EH/s to 10 EH/s,' the Bitcoin miner said. Iris Energy added that its 80MW data center expansion at Childress is on course to be “progressively” delivered starting in January 2024 through to Q2 2024. This is expected to support the increase in the operating hash rate. According to the statement, the purchase price for the Bitcoin miners, which translates to $14/TH (t... read More

Iris Energy Acquires 7,000 Next-Gen T21 Bitcoin Miners in Deal With Bitm...

    The Australia-based and Nasdaq-listed Iris Energy recently announced the acquisition of 1.3 exahash per second (EH/s) capacity in Bitmain's latest Antminer T21 models. This purchase boosts Iris Energy's proprietary mining capacity to a notable 8.3 EH/s.Iris Energy Secures 1.3 EH/s in Latest Bitmain Deal Iris Energy (Nasdaq: IREN) announced on Thursday its procurement of 7,000 next-generation T21 bitcoin (BTC) miners from Bitmain Technologies. The deal, amounting to roughly $18.6 million, translates to a cost of $14 per terahash. Bitmain has agreed to postpone 20% of this sum until May 30, 2024, while Iris Energy plans to settle the balance through structured payments. At the end of October, Bitmain introduced the T21 series, an air-cooled unit boasting up to 190 terahash per second (TH/s) capacity and a 19 joules per terahash (J/T) efficiency rating. Iris Energy highlighted that these T21 units' enhanced efficiency ratio will elevate their entire fleet's performance from 29.5 J/TH to 25.8 J/TH. Concurrently, Iris is advancing an 80 megawatt (MW) expansion at its Childress facility, targeting a 10 EH/s capacity by the second quarter of 2024. 'Early works and procurement for the next 100MW of data centers at Childress have commenced, with 600MW of total power available on site,' Iris disclosed on Thursday. The latest move by Iris follows a trend of major firms securing thousands of mining rigs from Bitmain and Microbt. Earlier in the month, Hive Digital purchased 4,800 Bitmain... read More

Iris Energy Boosts Mining Capacity With $19.6M Acquisition of Bitmain's ...

    The Nasdaq-listed bitcoin mining company Iris Energy has announced its acquisition of 1.4 exahash per second (EH/s) of Bitmain's latest S21 Antminers. This acquisition will increase the company's self-mining capacity by 25%, from 5.6 EH/s to 7 EH/s.Nasdaq-Listed Iris Energy Bolsters Mining Arsenal with Latest Next-Gen Mining Rig Purchase Just over two weeks ago, Bitmain introduced its S21 series Antminers, boasting an efficiency rating of less than 20 joules per terahash (J/T). Following this, the publicly traded bitcoin mining company Iris Energy, traded on Nasdaq under the ticker IREN, confirmed its purchase of 1.4 EH/s of Bitmain's S21 miners. The company revealed that this acquisition came with a price tag of $19.6 million, breaking down to $14 per terahash. An additional $2.9 million will be deferred and paid one year post-shipment. The S21 units will be stationed at the company's Childress, Texas, location, as detailed in their announcement. This new addition will elevate their self-mining capacity from 5.6 EH/s to 7 EH/s, marking a 25% increase. Although Iris didn't specify the exact model of the S21 Antminers they bought, they mentioned the machines' efficiency at 17.5 J/TH. This suggests they opted for the air-cooled variant. Given these machines' capability of 200 terahash per second and the total purchase volume of 1.4 EH/s, it's probable that Iris acquired around 7,000 units. The company, now operating at 7 EH/s, anticipates a near-future surge to 9.4 EH/s. This i... read More

Bitcoin Miner Iris Energy Dives into Generative AI, Investing $10M in Nv...

    On August 29, the publicly traded bitcoin mining entity, Iris Energy, revealed its acquisition of 248 Nvidia H100 graphics processing units (GPUs) at a cost of $10 million. While the company emphasized that its primary focus remains on BTC mining, it views generative artificial intelligence (AI) as an enticing 'additional opportunity.'From Bitcoin Mining ASICs to Nvidia GPUs - Iris Energy Expands to Offer AI Services As generative AI gained momentum in the early 2020s, tech giants such as Microsoft, Google and Baidu ramped up their investments. However, by 2023, the technology saw an even more pronounced surge. Generative AI involves artificial intelligence (AI) systems that create new content - be it text, images or video - grounded in their training data. Openai's Chatgpt, Anthropic's Claude, along with art platforms like Midjourney, pushed the technology further. These platforms can comprehend and respond to a vast array of text inputs, from simple queries to complex requests. Drawing a parallel to cryptocurrency mining, these AI models encompass billions of parameters, all needing training on expansive datasets. The enormity of training these models demands computational power that CPUs can't handle. Therefore, GPUs step in, parallelizing computations to provide the necessary throughput for large language models (LLMs). On Tuesday, Iris Energy, listed on Nasdaq as IREN, shared that their bitcoin mining efforts will now also channel computational power toward generative A... read More

Worldcoin's Iris Scanning Approach Deemed Evil, Security Expert Predicts...

    The recently launched Worldcoin human identity verification system elicited mixed reactions among people. While the project deems itself as a privacy-preserving digital identity, many prominent players in the community view the iris scanning process specialized Orb hardware device to be Orwellian. The crypto-focused project, co-founded by OpenAI CEO Sam Altman, has witnessed significant security concerns being raised due to the potential for hackers to exploit it. Slow Mist Founder's Views on Worldcoin Worldcoin is drawing a fresh wave of criticism from the founder of Slow Mist, who does not believe the project has much hope. The executive of the blockchain security expert said that if Worldcoin succeeds, it will be an 'evil' creation but added that it has a 'high probability of failure.' 'What is an iris? It is the most stable and durable unique mark of your person (unless you are blind), which is much more reliable than face and fingerprint verification. I have read the Worldcoin white paper, and the promises in it are really good, but we still need to be vigilant about a new category of things.' The founder also asked users to exercise a lot of vigilance while interacting with the project. Backlash So Far Former American intelligence contractor Edward Snowden drew a striking analogy, comparing the protocol's approach to treating the human body as a mere ticket punch. The privacy advocate urged his followers not to 'catalog their balls.' Don't use biometrics for anti-fraud... read More

Bitcoin Miner Iris Energy Expanding Capacity in Pivot to AI

    On June 20, institutional-grade Bitcoin mining firm Iris Energy announced an expansion plan to 9.1 EH/s (exahashes per second) from its current 5.6 EH/s. It also stated that there would be a “revitalization” of its high-performance computing (“HPC”) data center strategy. Iris is a 100% renewable energy Bitcoin miner targeting low-cost, under-utilized renewable energy. $IREN today announced: - 80MW Childress construction underway, target increase in potential data center capacity from 5.6 EH/s to ~9.1 EH/s by early 2024 - Long-lead items to unlock ~13.6 EH/s - Prior HPC data center strategy revitalized - Limited recourse financing update — Iris Energy (@irisenergyco) June 20, 2023 Bitcoin Mining Firm Pivots to AI The construction of the remaining 80MW (megawatts) of data centers for its first phase of expansion at its Childress, Texas site is underway. The additional four 20MW data centers are expected to be complete by early 2024, increasing the firm’s capacity by 63%. Phase two of the expansion will add a further 100MW of capacity, increasing hash power to 13.6 EH/s in the future. The firm stated: “Near-term focus remains on data center construction, whilst retaining flexibility on timing for miner purchases, which is subject to funding and market conditions.” The high-performance computing strategy appears to be a pivot into the artificial intelligence (AI) sector, which is all the rage at the moment. Moreover, demand for da... read More

Worldcoin Launches World ID, an AI Resistant, Iris Dependant ID Protocol

    Worldcoin, a project co-founded by Sam Altman, who is also a co-founder of artificial intelligence (AI) startup Openai, announced the launch of World ID, a digital proof of personhood ID protocol. The protocol allows for an AI-resistant verification of humanness online, using a device called the orb to scan the iris of each person for verification. Worldcoin Launches Iris-Based World ID Humannness Verification System To Counter AI Worldcoin, a cryptocurrency token project that was co-founded by Sam Altman, co-founder of Openai, has launched World ID, an AI-resistant protocol that will allow the verification of the identity of humans online through iris scan The project, which mentioned this launch enables a nongovernment universal basic income (UBI) obtained through AI means and distributed via digital currencies, argues that the rise of AI models that can pass or almost pass the Turing test determines the need for more innovative protocols to determine the 'humanness' of a being. World ID, a protocol that uses zero-knowledge proofs in connection with biometric data provided by the irises of the users, is Worldcoin's proposal to face these new challenges. Wordcoin states that the protocol will be private, self-sovereign, and decentralized, allowing users to have control over the utilization of their id data, while protecting the distribution of resources. The protocol, which also launched its software for builders to start experimenting with it, states that it will offer... read More

Iris Energy Boosts Self-Mining Capacity With 4.4 EH/s of New Bitmain Bit...

    Bitcoin miner, Iris Energy, announced plans to increase the company's self-mining capacity, from 2 exahash per second (EH/s) to approximately 5.5 EH/s, after it receives 4.4 EH/s of new Antminer S19j Pro miners from Bitmain.Iris Energy Leverages $67 Million in Bitmain Prepayments for Latest Mining Expansion Bitcoin mining company, Iris Energy, announced plans to increase its self-mining capacity to 5.5 exahash per second (EH/s) from 2 EH/s. The company recently unplugged 3.6 EH/s of mining rigs in November 2022 after receiving a default notice from a lender. To obtain 4.4 EH/s worth of machines, the company is utilizing approximately $67 million in Bitmain credits. The newly acquired S19j Pro mining rigs will be distributed among Iris Energy's data centers in British Columbia and Texas. If the company finds it has an excess of machines, it will sell them to invest in corporate purposes and growth initiatives. Daniel Roberts, co-founder and co-CEO of Iris Energy, described the latest move as an essential juncture for the bitcoin mining firm. 'This is a significant milestone for Iris Energy. We are delighted to have been able to utilize our remaining Bitmain prepayments to acquire new miners without any additional cash outlay,' Roberts said in a statement. 'In doing so, [it] not only increase[s] our self-mining capacity to 5.5 EH/s, all powered by 100% renewable energy data center infrastructure, but also fully resolve[s] our obligations under our contract with Bitmain,' Robert... read More

Iris Energy Slashes Bitcoin Mining Capacity Due to a Requested Loan

    Iris Energy – an Australian crypto mining company whose main purview is the operation of BTC mining sites in Canada running on renewable energy exclusively – has recently ceased mining in two subsidiaries. Nevertheless, the firm still maintains that its business continues to be profitable. Immediate Repayment of Loan Demanded The subsidiaries operating as Special Purpose Vehicles (SPVs) used Bitmain mining rigs financed by a $107.8 million loan from the New York Digital Investment Group (NYDIG), reads the company's statement. Unfortunately, the crypto winter has shattered the faith many investors had in cryptocurrencies, leading to a demand for immediate repayment of the loan. Due to a combination of adverse market conditions, an increase in mining difficulty as well as in the price of electricity, and the value of BTC itself dropping, the crypto miners in question saw a far smaller return on investment than previously expected. Fortunately for Iris Energy, the machines purchased with the loan were also written down as collateral – meaning the debt will be cleared simply by turning them over to NYDIG. Business Still Profitable Despite Drop in Share Price Iris Energy – a company, headed by Daniel and Will Roberts – recently suffered a wipeout of $220 million in market value due to a 94.5% drop in their stock prices, IREN. Nevertheless, the brothers have stated that they are still optimistic about the cryptocurrency sector. They also reiterated tha... read More

2 Lenders Claim Bitcoin Miner Iris Energy Defaulted on Equipment Loans W...

    Another bitcoin mining company is dealing with financial issues as Iris Energy’s Form 6-K filing with the U.S. Securities and Exchange Commission (SEC) shows the company could face default on two loans. Iris Energy’s Form 6-K filing explains to the SEC that the firm “received a notice from its lender alleging the occurrence of an event of default and acceleration under the respective limited recourse equipment financing facilities.”Bitcoin Mining Company Iris Energy Faces Default on 2 Loans On Nov. 7, 2022, the bitcoin mining firm Iris Energy updated investors concerning October’s operations and the company noted it currently operates a hashrate of around 3.9 exahash per second (EH/s). The bitcoin mining company also said its “Mackenzie expansion” in British Columbia, Canada, from 50 megawatts (MW) to 80MW is “on track for energization by the end Q4 2022.” Also, the firm’s Childress facility in Texas is still in the construction and energization phase and operations continue on that end. However, a Form 6-K SEC filing registered in November indicates that two lenders are alleging the company defaulted on $103 million in equipment loans. The loans are being held by two special-purpose vehicles (SPV) and the lenders have sent a “purported acceleration notice” for the alleged defaults. Iris Energy said that a large fraction of its exahash is unaffected by the SPV’s purported acceleration notice. Iris ... read More

Bitcoin Miner Iris Energy On Verge of $103 Million Loan Default

    Yet another major North American Bitcoin miner is looking ill-prepared to pay off its debts before the end of the year.  This time it’s Iris Energy – a sustainability-focused miner that recently revealed its monthly profits to be well under its interest payment obligations.  Iris Energy’s Mining Margins The British Columbia-based firm published an update on Tuesday concerning its financing arrangements with NYDIG, an institutional Bitcoin broker that provided Iris with financing for Bitcoin mining machines, called ASICs.  Iris stated that some of the Bitcoin miners owned by its special-purpose vehicles (SPVs) “produce insufficient cash flow” to cover their debt to the lender. It is currently amid restructuring talks with the lender.  The firm designed three Non-Recourse SPVs with the specific purpose of financing some of its miners. Across all three, Iris has $104 million of principal debt still outstanding. Iris clarified that this is the only debt it has.  At present, the Non-Recourse SPVs produce roughly $2 million in gross monthly profit by mining Bitcoin but are required to pay $7 million in monthly interest payments. Furthermore, the miners owned by the SPVs are only worth an estimated $65 million to $70 million – well under their initial purchase amount. As such, Iris said it does not expect its second or third SPVs to make their scheduled principal payments on November 8th, which would end in default.  ... read More

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