Iris Energy just dropped a huge bombshell. They’re buying 7000 of Bitmain's brand new T21 miners, which were just revealed! Deliveries are set for early 2024. This is a massive leap for them.
Iris Energy Expands with 7000 New Bitmain Miners
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That’s one hefty investment! The T21s can handle 190 Th/s, right? If they pull this off, their Childress facility in Texas could hit 10 eh/s by mid 2024. That's ambitious.
Honestly, it’s risky business if you ask me. Using investors’ cash with all this uncertainty... Remember the days when miners actually had skin in the game? Prices could swing wildly, and these big companies betting on BTC to soar post-halving? If the price doesn't climb, they could be totally wrecked.
What's the deal with the new miners, though? Aren't they just gonna make profits harder to come by? Bitmain ASICs are expensive. With the halving on the horizon, costs will shoot up. It feels like a ticking time bomb, not a golden opportunity.
token_laserMember
Posts: 145 · Reputation: 208
#5Jul 22, 2018, 12:29 PM
Nah, it's not just about costs rising. You gotta think about the revenue per TH/s going down too! Even if you save on electricity, if your earnings drop, you’re still losing money. It's a complicated game.
tony_4tl4sMember
Posts: 286 · Reputation: 84
#6Jul 22, 2018, 06:19 PM
That’s a fair point, the math can get crazy. Profit margins are gonna tighten for sure. But isn't there also an influx of new ASICs from other companies? Could balance things out a bit.
Well it's true that more miners mean more competition. But profit margins are gonna shrink every week with the hashrate going up. Just gotta watch what those big companies report in their earnings.
Did you guys see their latest update? In December alone, they mined 399 BTC, which totals 4123 BTC for the whole year. And they're on track to hit that 10 eh/s goal! Sounds promising, but is it really sustainable?