Iris Energy faced multiple hurdles with
regulations and
legal issues in various countries including Spain, Hong Kong, and Portugal due to its iris-scanning technology. Despite the controversy surrounding its
biometric data collection efforts globally, Worldcoin has defended its project as 'privacy-enhancing'. On the positive side,
Canaccord predicts a growth in
Bitcoin mining strength, bolstering Iris Energy's outlook. Iris Energy has made substantial investment towards expanding its
mining capacity, with plans to acquire 39,000 Bitmain S21 XP Antminers aiming to hit 30 EH/s hash rate by 2024. The company's diversification into
AI data centres along with its mining operations received positive feedback despite declining Bitcoin output. Investigations into Worldcoin were either dropped or resolved in countries like Kenya and Argentina, paving the way for potential restarts.
JPMorgan recognized the increasing interest from investors in the Bitcoin mining sector, further strengthening the position of companies like Iris Energy. Reacting to the privacy concerns, Worldcoin bolstered its security measures by
open-sourcing its biometric data system. Iris Energy has also expanded its power capacity at its
Texas Data Center. Despite a short seller's negative call on the company, Iris Energy's goal is to boost Bitcoin mining capacity, backed by an aggressive expansion plan targeting a 20 EH/s goal.
IRIS Coin News Analytics from Fri, 15 Dec 2023 08:00:00 GMT to Tue, 01 Oct 2024 04:23:53 GMT -
Rating 5
- Innovation 3
- Information 8
- Rumor 2
