On February 15, 2024, Iris Energy Limited, now officially rebranded as IREN, disclosed its financial results for the second quarter and first half of the fiscal year 2024, ending December 31, 2023. The company, a leader in renewable energy-powered data centers, reported a Bitcoin mining revenue increase to $42.0 million from $34.4 million in the previous quarter. Despite a decrease in Bitcoin production due to a higher global hashrate, the company mined 1,144 Bitcoin. IREN also highlighted its AI cloud services business's growth, with a significant purchase order for NVIDIA H100 GPUs. The company's net loss after income tax slightly improved to $(5.2) million, and its adjusted EBITDA increased to $14.0 million. As of December 31, 2023, IREN had $90.3 million in cash and cash equivalents and no debt facilities. Operational...Show More

On February 15, 2024, Iris Energy Limited, now officially rebranded as IREN, disclosed its financial results for the second quarter and first half of the fiscal year 2024, ending December 31, 2023. The company, a leader in renewable energy-powered data centers, reported a Bitcoin mining revenue increase to $42.0 million from $34.4 million in the previous quarter. Despite a decrease in Bitcoin production due to a higher global hashrate, the company mined 1,144 Bitcoin. IREN also highlighted its AI cloud services business's growth, with a significant purchase order for NVIDIA H100 GPUs. The company's net loss after income tax slightly improved to $(5.2) million, and its adjusted EBITDA increased to $14.0 million. As of December 31, 2023, IREN had $90.3 million in cash and cash equivalents and no debt facilities. Operational highlights included the expansion of Bitcoin mining capacity and the announcement of a new 1,400MW data center site in West Texas. The company's cash and cash equivalents grew to $146.0 million as of February 9, 2024, following a successful sale of shares. The earnings conference call was webcasted live, with a replay available for one year.