Dan and Will first came across Bitcoin in 2013 and joined the many other investors attracted to the relatively new asset. However, it took a few years for them to truly understand exactly what Bitcoin was – and there was no denying it was here to stay.
Three main factors solidified their path forward:
Bitcoin mining combines both their fields of expertise: renewable energy and traditional mining. Dan and Will saw an opportunity to capitalize on excess renewable energy and support energy networks, while building out a profitable business in an emerging sector.
Capitalizing on our unique position in the market, the path had always been a clear one. Iris Energy’s business model has been built on sustainably-mined Bitcoin, with a focus on scaling sustainably from the start, and not bolting it on as an afterthought.
The opportunity emerged from two key drivers:
Iris Energy is doing something unique. We are using low-cost excess renewable energy to:
As the Bitcoin industry continues to grow, so do we, with sustainability at the forefront of our decision-making.
Avenues for growth: