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

SEC announcement ·  Apr 4 08:00
Summary by Moomoo AI
Iris Energy Limited, operating under the name IREN, has released its monthly investor update for March 2024 on April 4, 2024. The update highlights significant progress in the company's Bitcoin mining and AI cloud services. In March, IREN mined 353 Bitcoins and reported a monthly mining revenue increase of 56% to $23.7 million, attributed to an increased hashrate and a higher Bitcoin price. The company's operating hashrate reached 7.1 EH/s, with an expansion to 20 EH/s fully funded and underway. IREN's AI cloud services are also expanding, with 248 NVIDIA H100 GPUs currently operating and 568 in the commissioning phase. The company's data center capacity stands at 220MW, with plans to reach 460MW in 2024. IREN reported a strong financial position with $301 million in cash and no debt, following a targeted ATM equity raising program. The company also announced that it will start quarterly reporting from March 31, 2024, and outlined several upcoming events, including the CG Digital Assets Symposium and a non-deal roadshow in London.
Iris Energy Limited, operating under the name IREN, has released its monthly investor update for March 2024 on April 4, 2024. The update highlights significant progress in the company's Bitcoin mining and AI cloud services. In March, IREN mined 353 Bitcoins and reported a monthly mining revenue increase of 56% to $23.7 million, attributed to an increased hashrate and a higher Bitcoin price. The company's operating hashrate reached 7.1 EH/s, with an expansion to 20 EH/s fully funded and underway. IREN's AI cloud services are also expanding, with 248 NVIDIA H100 GPUs currently operating and 568 in the commissioning phase. The company's data center capacity stands at 220MW, with plans to reach 460MW in 2024. IREN reported a strong financial position with $301 million in cash and no debt, following a targeted ATM equity raising program. The company also announced that it will start quarterly reporting from March 31, 2024, and outlined several upcoming events, including the CG Digital Assets Symposium and a non-deal roadshow in London.
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