|Location||Prince George, British Columbia (Canada)|
|Land||50-year lease, option to purchase|
|Power Capacity||50MW (1.5 EH/s)|
|Connectivity||Dual physical fiber paths|
|Employment||15 direct full-time jobs|
Iris Energy’s third operating site is located in Prince George (population 74,000), the largest city in northern British Columbia, located 500km north of Vancouver.
Iris Energy has a 50-year long-term lease (30-year initial lease term, with 2 x 10-year extensions) over the 12-acre site, with an option to purchase.
Foundation works for the first data center building commenced in February 2022, with 50MW becoming operational in September 2022.
The proprietary data centers have capacity for ~16,000 Bitmain S19j Pro miners generating ~1.5 EH/s of hashrate (when fully operational) and support approximately 15 direct full-time local jobs in Prince George.
The facility will generate long-term revenue streams for the City of Prince George and the local community over the multi-decade expected life of the business. Iris Energy has committed to purchasing locally and contracting with local businesses where it is possible and makes sense to do so.
The site is connected to the BC Hydro transmission network and powered by 100% renewable energy, currently approximately 97% sourced from clean or renewable sources as reported by BC Hydro (primarily from hydroelectricity) and 3% sourced from the purchase of RECs.
Declining industrial demand over the past couple of decades and additional renewable generation capacity has resulted in BC Hydro having excess generation compared to load and Iris Energy’s data centers can absorb some of this excess capacity, which under the regulatory model applicable in British Columbia has the benefit of reducing rates for other BC Hydro customers.