Summary by Futu AI
Iris Energy Limited, operating under the name IREN, submitted a Form 6-K to the United States Securities and Exchange Commission on October 4, 2024, providing a monthly investor update for September 2024. The update highlighted key operational metrics and business developments, including the mining of 347 Bitcoins, a reduction in electricity cost per Bitcoin to $23.6k, and an installed operating hashrate of 21 EH/s, with plans to increase to 31 EH/s in the fourth quarter of 2024. The company also reported on its AI Cloud Services, noting the addition of 1,896 NVIDIA GPUs and an estimated contribution of approximately 10% to run-rate earnings by year-end. Data center operations were detailed, with 360MW currently operating and an expansion to 510MW expected within the year. The update also covered the Community Grants Program and upcoming events. Forward-looking statements were included, outlining expectations for future operational and financial performance, as well as potential risks and uncertainties.