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

SEC announcement ·  Feb 7 06:06
Summary by Moomoo AI
Iris Energy Limited, a sustainable Bitcoin mining company, has furnished a monthly investor update to the SEC for January 2024, detailing its operational results and business updates. The update, dated February 7, 2024, indicates that the company's operating capacity increased to 6.2 EH/s as of February 6, 2024, with plans to expand to 20 EH/s by the second half of 2024. The company mined 341 Bitcoins in January, generating $14.466 million in revenue, while incurring $6.376 million in electricity costs. Iris Energy has entered into an agreement with Bitmain to secure 10 EH/s of new T21 miners at a fixed price of $14/TH, which includes options to purchase an additional 9 EH/s in the second half of 2024. The company's expansion to 10 EH/s is on track for the...Show More
Iris Energy Limited, a sustainable Bitcoin mining company, has furnished a monthly investor update to the SEC for January 2024, detailing its operational results and business updates. The update, dated February 7, 2024, indicates that the company's operating capacity increased to 6.2 EH/s as of February 6, 2024, with plans to expand to 20 EH/s by the second half of 2024. The company mined 341 Bitcoins in January, generating $14.466 million in revenue, while incurring $6.376 million in electricity costs. Iris Energy has entered into an agreement with Bitmain to secure 10 EH/s of new T21 miners at a fixed price of $14/TH, which includes options to purchase an additional 9 EH/s in the second half of 2024. The company's expansion to 10 EH/s is on track for the first half of 2024, with site civils and procurement underway for the subsequent expansion to 20 EH/s. Iris Energy's projects in Canada and Texas are powered by 100% renewable energy, and the company continues to focus on community engagement and sustainable growth. The investor update also includes forward-looking statements regarding the company's strategy, operational and financial projections, and expansion plans.

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