Bitcoin Miner Iris Energy’s Monthly Revenue Fell 10% in November on Higher Difficulty

Iris Energy (IREN), a Sydney-based company that mines bitcoin primarily with renewable energy, said its monthly revenue and number of bitcoin mined fell in November, mainly due to timing issues and an increase in network difficulty, according to a statement.

“Revenue per bitcoin mined increased by 1%, with revenue down 10% from October 2021 primarily due to one less day in the period combined with an increase in the network difficulty (average implied global hashrate increased from 142 EH/s to 159 EH/s),” the company said.