Iris Energy Ltd

Iris Energy Ltd. operates as a Bitcoin mining company. It builds, owns and operates data centers and electrical infrastructure for the mining of Bitcoin, primarily powered by renewable energy. The company was founded by Daniel Roberts and William Roberts on November 6, 2018 and is headquartered in Sydney, Australia.

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Iris Energy Ltd. engages in operating institutional grade data centers powered by renewable energy. It operates through the Australia and North America geographical segments. The company was founded by Daniel Roberts and William Roberts on November 6, 2018, and is headquartered in Sydney, Australia.

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Iris Energy Limited (NASDAQ:IREN) said during October it mined 376 Bitcoin for mining revenue of $11.16 million or $29,673 per Bitcoin, up from $10.3 million in the previous month. During the month, the company achieved an average operating hashrate of 5,571 PH/s, up from $5,554 PH/s in September.

Iris Energy reports $11.2M in Bitcoin revenue for October

Partnership with WEKA to optimize generative AI workloads Near-term expansion on track to 9.4 EH/s SYDNEY, Australia, Nov. 07, 2023 (GLOBE NEWSWIRE) -- Iris Energy Limited (NASDAQ: IREN) ("Iris Energy" or "the Company"), a leading owner and operator of institutional-grade, highly efficient proprietary Bitcoin mining data centers powered by 100% renewable energy, today published a monthly investor update for October 2023, containing its results from operations as well as business updates. Key Highlights 1 Key metrics 2 Oct-23 Average operating hashrate (PH/s) 5,571 Bitcoin mined 376 Mining revenue (US$'000) 11,159 Electricity costs (US$'000)3 5,868 Revenue per Bitcoin (US$) 29,673 Electricity costs per Bitcoin (US$) 15,604 Partnership with WEKA to optimize generative AI workloads Provides innovative storage solutions for generative AI and performance-intensive workloads Enables optimized GPU-stack storage performance within Iris Energy's data centers Near-term expansion on track to 9.4 EH/s Acquired 1.4 EH/s of latest-generation Bitmain S21 miners Total consideration of $14/TH4 (~$2/TH deferred until one year after shipment) Leading 17.5 J/TH efficiency to improve resilience post-halving Funded from existing capital sources, including cash at bank of ~$64 million5 Childress (Phase 1) construction remains on track, providing near-term expansion to 9.4 EH/s6 Childress construction (Phase 1, first 100MW) DC 1: operating since April 2023 DC 2: racking and electrical installation commenced DC 3: structure and internal framing commenced DC 4: concrete foundations commenced DC 5: earthworks complete Corporate update Partnership with WEKA to optimize generative AI workloads On October 24, 2023, the Company announced it is partnering with WEKA, the data platform software provider for performance-intensive workloads, as part of its entry into the generative AI market.

Iris Energy Announces Monthly Investor Update for October 2023

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Iris Energy Limited (NASDAQ:IREN) said it has formed a partnership with WEKA as part of its entry into the generative AI market, using WEKA's Data Platform to provide storage and data management solutions. The bitcoin mining company said WEKA's software-defined, hybrid cloud-based data architecture is expected to provide a high-performance solution for GPU optimization.

Iris Energy partners WEKA for entry into generative AI market

SYDNEY, Australia, Oct. 24, 2023 (GLOBE NEWSWIRE) -- Iris Energy Limited (NASDAQ: IREN ) (together with its subsidiaries, “Iris Energy” or “the Company”), a leading owner and operator of institutional-grade, highly efficient Bitcoin mining data centers powered by 100% renewable energy, today announced it is partnering with WEKA , the data platform software provider for performance-intensive workloads, as part of its entry into the generative AI market.

Iris Energy Partners with WEKA to Optimize Generative AI Workloads

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Iris Energy Limited (NASDAQ:IREN) announced that it is increasing its self-mining capacity by 25% from 5.6 exahashes per second (EH/s) to 7.0 EH/s through the acquisition of about 7,000, or 1.4 EH/s, of the latest-generation Bitmain S21 miners.  The sustainable Bitcoin mining company said the $19.6 million purchase price will consist of $16.7 million to be paid before shipment, with the remaining 15% of the purchase price being deferred until one year after shipment.

Iris Energy reveals big boost in Bitcoin mining capacity

SYDNEY, Australia, Oct. 06, 2023 (GLOBE NEWSWIRE) -- Iris Energy Limited (NASDAQ: IREN ) (together with its subsidiaries, “Iris Energy” or “the Company”), a leading owner and operator of institutional-grade, highly efficient Bitcoin mining data centers powered by 100% renewable energy, today announced it is increasing its self-mining capacity by 25% from 5.6 EH/s to 7.0 EH/s. Key Highlights Acquisition of 1.4 EH/s of latest-generation Bitmain S21 miners Self-mining capacity increasing by 25% to 7.0 EH/s Leading 17.5 J/TH efficiency to improve resilience post-halving $19.6 million purchase price ($14/TH)1 – $2.9 million deferred until one year after shipment Expected to be installed at the Company's site in Childress, Texas Near-term expansion increased to 9.4 EH/s2 Iris Energy has partnered with Bitmain Technologies Delaware Limited (“Bitmain”) to acquire approximately 7,000 latest-generation Bitmain S21 miners.

Iris Energy Increases Mining Capacity by 25% to 7.0 EH/s

After losing some value lately, a hammer chart pattern has been formed for Iris Energy Limited (IREN), indicating that the stock has found support. This, combined with an upward trend in earnings estimate revisions, could lead to a trend reversal for the stock in the near term.

Here's Why Iris Energy Limited (IREN) Could be Great Choice for a Bottom Fisher

Iris Energy Limited (NASDAQ:IREN) said in its monthly update that its plan to add another 80MW to its Childress bitcoin mining operation in Texas is continuing on track. The construction of the remaining 80MW, or four data centers of 20MW each, for Phase 1 of Iris Energy's expansion is progressing as planned.

Iris Energy steadily advancing 80MW expansion at Childress bitcoin mining operation

Low-cost power, 30 EH/s Bitcoin mining program 80MW expansion at Childress on track SYDNEY, Australia, Oct. 05, 2023 (GLOBE NEWSWIRE) -- Iris Energy Limited (NASDAQ: IREN) ("Iris Energy" or "the Company"), a leading owner and operator of institutional-grade, highly efficient proprietary Bitcoin mining data centers powered by 100% renewable energy, today published a monthly investor update for August 2023, containing its results from operations as well as business updates. Key Highlights 1 Key metrics 2 Sep-23 Average operating hashrate (PH/s) 5,554 Bitcoin mined 390 Mining revenue (US$'000) 10,278 Electricity costs (US$'000)3 5,354 Revenue per Bitcoin (US$) 26,331 Electricity costs per Bitcoin (US$) 13,717 Low-cost power, primed for significant growth 1.4c power at Childress since inception4 30 EH/s Bitcoin mining program5 Next-gen compute / generative AI Childress construction (Phase 1, first 100MW) Concrete foundations for second and third data centers complete Primary steel structure for second data center complete Upcoming conferences October 16: AFR Cryptocurrency Summit, Sydney October 30-31: AIM Summit, Dubai Corporate update Full year FY23 results On September 13, Iris Energy reported financial results for the full year ended June 30, 2023.

Iris Energy Announces Monthly Investor Update for September 2023

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Iris Energy Limited (NASDAQ:IREN)'s FY23 financial report revealed a dynamic year marked by substantial growth in the Bitcoin mining sector, ambitious expansion plans, and strategic diversification into emerging technologies. The company's FY23 report reveals substantial growth in Bitcoin mining revenue, capacity expansion, and a strategic move into generative AI.

Iris Energy FY23 results: a deeper look at its Bitcoin mining success

Iris Energy reported FY 2023 results, with profitability since the June update being excellent. The company's access to cheap power in Texas and participation in emergency energy response contributes to lower energy costs. The AI/HPC initiative and potential capacity expansion add to the company's value, making it an attractive investment in the Bitcoin space.

Iris: Good Cash Generation And Energy Advantages Becoming Apparent

Iris Energy Limited (NASDAQ:IREN) has reported record revenue for its 2023 financial year as it increased its operating hashrate and mined more bitcoin. The sustainable bitcoin mining company posted a 28% increase in revenue to $75.5 million for the 12 months ended June 30, up from $59 million a year earlier, noting that the increase came despite a decrease in the average price of bitcoin.

Iris Energy wraps up ‘transformational' year with record revenue

Iris Energy Limited (NASDAQ:IREN ) Q3 2023 Earnings Conference Call September 13, 2023 5:00 PM ET Company Participants Robert Lincoln - Senior Manager, Investor Relations Daniel Roberts - Co-Founder and Co-Chief Executive Officer Belinda Nucifora - Chief Financial Officer Conference Call Participants Mike Colonnese - H.C. Wainwright Will Carlson - Cantor Fitzgerald Joseph Vafi - Canaccord Genuity Nick Giles - B.

Iris Energy Limited (IREN) Q3 2023 Earnings Call Transcript

SYDNEY, Australia, Sept. 13, 2023 (GLOBE NEWSWIRE) -- Iris Energy Limited (NASDAQ: IREN ) (together with its subsidiaries, “Iris Energy” or “the Company”), a leading owner and operator of institutional-grade, highly efficient Bitcoin mining data centers powered by 100% renewable energy, today reported its financial results for the full year ended June 30, 2023. All $ amounts are in United States Dollars (“USD”) unless otherwise stated.

Iris Energy Reports Full Year FY23 Results

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SYDNEY, Australia, Sept. 07, 2023 (GLOBE NEWSWIRE) -- Iris Energy Limited (NASDAQ: IREN) (together with its subsidiaries, “Iris Energy”, or the “Company”), a leading owner and operator of institutional-grade, highly efficient Bitcoin mining data centers powered by 100% renewable energy, today announced that it will release its financial results for the full year ended June 30, 2023 on Wednesday, September 13, 2023 Eastern Time and host a conference call beginning at 5:00 p.m. USA Eastern Time. The webcast will be recorded, and the replay will accessible shortly after the event at https://investors.irisenergy.co/events-and-presentations

Iris Energy to Release FY23 Results and Host Conference Call on September 13, 2023

Iris Energy Limited (NASDAQ:IREN) paid significantly less for electricity in August 2023 as it benefitted from free electricity at its Childress site in Texas. The Australia-based, US-listed bitcoin mining data centre company said in a statement that it mined 410 bitcoins in August 2023, down from 423 in July, generating US$11.46 million in revenues for an average of US$27,937 per bitcoin.

Iris Energy's benefits from lower electricity charge per bitcoin in August

Negative 8c Power at Childress in August Targeting Next-Gen Compute and Generative AI with NVIDIA H100 GPUs SYDNEY, Australia, Sept. 06, 2023 (GLOBE NEWSWIRE) -- Iris Energy Limited (NASDAQ: IREN) ("Iris Energy" or "the Company"), a leading owner and operator of institutional-grade, highly efficient proprietary Bitcoin mining data centers powered by 100% renewable energy, today published a monthly investor update for August 2023, containing its results from operations as well as business updates.

Iris Energy Announces Monthly Investor Update for August 2023

Iris Energy is officially entering the AI space with a $10 million investment in GPUs. Interest in AI appears to be diminishing with search interest and web traffic data all showing declines for OpenAI, Midjourney, and Stable AI. As a Bitcoin miner, Iris Energy still operates an efficient fleet and plans to scale to 9.1 EH/s by early 2024.

Iris Energy: Entering The AI Market

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Iris Energy Limited (NASDAQ:IREN) announced that it has purchased 248 of NVIDIA's latest-generation artificial intelligence (AI) H100 GPUs for approximately US$10 million.  The sustainable Bitcoin mining company said the initial purchase is expected to be delivered in the coming months and will allow the company to further assess the appropriateness of its next-generation data centers for servicing adjacent computing markets such as generative AI, as well as demonstrate capability to prospective customers.

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