Bitcoin mining company Iris Energy has reached an agreement to sell up to $100 million worth of stock investment bank B. Riley, as the company contemplates mergers and acquisitions after a recent capital increase.

In September, the firm finalized a deal with investment banker B. Riley that gives it the option to sell the company for up to $100 million in common stock over the next two years.

Interestingly, there has been a significant amount of speculation surrounding the bitcoin mining sector. consolidatingand companies like CleanSpark have already taken advantage of market conditions to acquire mining sites and thousands of mining machines at discounted prices.

Iris Energy raised its monthly average operating hash rate

In particular, in September, Iris Energy raised its monthly average operating hash rate by 24% reaching a total of 2,729 exhashes per second (EH/s). mined 325 BTC simultaneously, an increase of 8%.

According to a statement, the difference between the two occurred due to an increase in the difficulty-implied average global hash rate during the period, which was also the main driver behind the increase in the Company’s electricity costs per Bitcoin mined during the month.

Notably, the biggest increase since January came in mining difficulty at the end of August, up 9.26%. Meanwhile, according to current projections, a significant increase will occur in the coming week.

In addition to the previously disclosed 795 megawatts, Iris said its development projects in Canada, the US and Asia-Pacific had the potential to support more than 1 gigawatt of electrical capacity.

The company operates three locations in Canada and one in Texas that is now under construction with a capacity of 600 megawatts after an initial build of 40 megawatts. According to the firm, they are all “powered by 100% renewable energy.”

Iris Energy was one of the largest donors to Mackenzie Seniors Week, which recognized seniors for their accomplishments and the positive effects they have had on their community.

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