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

SEC announcement ·  Jan 5 13:00
Summary by Futu AI
Iris Energy Limited, a sustainable Bitcoin mining company, has released its monthly investor update for December 2023 on January 5, 2024. The update highlights the company's operational results, including the mining of 399 Bitcoins and a mining revenue of $17.174 million. Iris Energy reported an average operating hashrate of 5,576 PH/s and electricity costs of $5.926 million for the month. The company also announced the acquisition of 1.6 EH/s of new-generation Bitmain T21 miners, which cost $22.3 million and are expected to increase the self-mining capacity to 10 EH/s. The expansion to 10 EH/s is fully funded and construction is ahead of schedule, with the commissioning of NVIDIA H100 GPUs targeting generative AI also underway. Iris Energy's Childress, Texas site is progressing well, with the...Show More
Iris Energy Limited, a sustainable Bitcoin mining company, has released its monthly investor update for December 2023 on January 5, 2024. The update highlights the company's operational results, including the mining of 399 Bitcoins and a mining revenue of $17.174 million. Iris Energy reported an average operating hashrate of 5,576 PH/s and electricity costs of $5.926 million for the month. The company also announced the acquisition of 1.6 EH/s of new-generation Bitmain T21 miners, which cost $22.3 million and are expected to increase the self-mining capacity to 10 EH/s. The expansion to 10 EH/s is fully funded and construction is ahead of schedule, with the commissioning of NVIDIA H100 GPUs targeting generative AI also underway. Iris Energy's Childress, Texas site is progressing well, with the first phase of construction ahead of schedule and set to be delivered progressively from January 2024. The company's sites in Canal Flats, Mackenzie, and Prince George have been powered by 100% renewable energy since inception. Iris Energy also highlighted its community engagement efforts and future development plans, including the potential to support over 1,000MW of additional capacity across new sites. The update also contains forward-looking statements regarding the company's business strategy and expected operational and financial results.

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