12:48 PM EDT, 06/06/2024 (MT Newswires) -- Iris Energy ( IREN ) said Thursday it mined 230 bitcoins in May, down from 358 in April.

The company said the decrease in bitcoin mined in May was due to reduced block subsidy, partially offset by a 14% increase in average operating hashrate.

Based on its 2024 expansion schedule, the firm plans to increase its bitcoin mining to 30 exahashes per second in Q4 from 20 EH/s in Q3 and the current 10 EH/s.

Shares of Iris Energy ( IREN ) were up over 11% in recent trading.

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