Iris Energy Limited says its data center capacity not affected by Government of British Columbia’s recent cryptocurrency mining suspension move

Iris Energy Limited (NASDAQ:IREN) has said its 160MW of data center capacity is not affected by the recent cryptocurrency mining suspension announcement by the Government of British Columbia.

On December 21, 2022, the Government of British Columbia (BC) announced a temporary 18-month suspension on new and early-stage BC Hydro connection requests from cryptocurrency mining projects due to unprecedented interest.

According to the BC government’s release, cryptocurrency mining projects that are operational, and a small number of projects that are well advanced in BC Hydro’s connection process, will not be affected, Iris Energy said.

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As a result, the company’s 160MW of data center capacity at Canal Flats (30MW), Prince George (50MW) and Mackenzie (80MW) is unaffected.

Iris Energy said it looks forward to continuing to work with BC Hydro and local communities in respect of its existing data centers and any additional development projects the company may pursue in the future. 

In parallel, it said, construction of the first 20MW data center at its 600MW project in Childress, Texas remains on track, with the company continuing to progress development works across its globally diversified pipeline of future sites.

Iris Energy is a sustainable Bitcoin mining company that supports the decarbonization of energy markets and the global Bitcoin network.

Contact the author at jon.hopkins@proactiveinvestors.com