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Iris Energy | 6-K: Report of foreign private issuer (related to financial reporting)

SEC announcement ·  Jun 6 20:36
Summary by Futu AI
Iris Energy Limited, operating under the name IREN and listed on NASDAQ, has furnished a monthly investor update for May 2024, detailing its operational results and business developments. The update, dated June 6, 2024, highlights the company's activities in Bitcoin mining and AI cloud services, reporting the mining of 230 Bitcoin and the operation of 816 NVIDIA H100 GPUs. IREN's current operating hashrate stands at 10 EH/s, with plans to increase to 20 EH/s in the third quarter and 30 EH/s in the fourth quarter of 2024. The company's data center capacity is at 260MW, with an expansion to 510MW planned within the year. Financially, IREN reported $322 million in cash with no debt and highlighted its third-quarter fiscal year 2024 results, which showed record revenue, adjusted...Show More
Iris Energy Limited, operating under the name IREN and listed on NASDAQ, has furnished a monthly investor update for May 2024, detailing its operational results and business developments. The update, dated June 6, 2024, highlights the company's activities in Bitcoin mining and AI cloud services, reporting the mining of 230 Bitcoin and the operation of 816 NVIDIA H100 GPUs. IREN's current operating hashrate stands at 10 EH/s, with plans to increase to 20 EH/s in the third quarter and 30 EH/s in the fourth quarter of 2024. The company's data center capacity is at 260MW, with an expansion to 510MW planned within the year. Financially, IREN reported $322 million in cash with no debt and highlighted its third-quarter fiscal year 2024 results, which showed record revenue, adjusted EBITDA, and operating cash flow. The update also outlined the construction progress of the Childress Phase 2 and 3 data centers, with completion expected in the third and fourth quarters of 2024, respectively. Upcoming events for the company include participation in various industry conferences and investor events. The report also included forward-looking statements regarding the company's strategy, operational and financial expectations, and expansion plans.

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