Business
Business Update
SYDNEY, July 01, 2024 (GLOBE NEWSWIRE) -- IREN (Iris Energy Limited) (NASDAQ: IREN) (together with its subsidiaries, "IREN" or “the Company”), a leading
About this update from Iren Limited
[{"type":"text","content":"SYDNEY, July 01, 2024 (GLOBE NEWSWIRE) -- IREN (Iris Energy Limited) (NASDAQ: IREN) (together with its subsidiaries, \"IREN\" or “the Company”), a leading next-generation data center business powering the future of Bitcoin, AI and beyond, today provided a business update. 2024 expansion fully funded $425.3m cash1, no debt30 EH/s and 510MW of data centers in 2024 fully fundedAdditional cash buffer, providing flexibility in respect of: procurement items for 2025+ expansion;prospective connection agreements for additional power capacity; andother general purposes, e.g. in relation to potential power monetization activities (see below) Monetization program for power and land portfolio Near-term focus on accelerating monetization opportunities for broader power and land portfolio, including the 1,400MW project in West TexasAll options under consideration, including asset sales, colocation deals, joint ventures, build-to-suit data centers, as well as expansion of existing GPU fleet About IREN IREN is a leading next-generation data center business powering the future of Bitcoin, AI and beyond utilizing 100% renewable energy. Bitcoin Mining: providing security to the Bitcoin network, expanding to 30 EH/s in 2024. Operations since 2019.AI Cloud Services: providing cloud compute to AI customers, 816 NVIDIA H100 GPUs. Operations since 2024.Next-Generation Data Centers: 260MW of operating data centers, expanding to 510MW in 2024. Specifically designed and purpose-built infrastructure for high-performance and power-dense computing applications.Technology: technology stack for performance optimization of AI Cloud Services, Bitcoin Mining and energy trading operations.Development Portfolio: 2,160MW of secured power capacity across North America, >1,000 acre property portfolio and additional development pipeline.100% Renewable Energy (from clean or renewable energy sources or through the purchase of RECs): targets sites with low-cost & underutilized renewable energy, and supports electrical grids and local communities. Contacts MediaJon Snowball Domestique +61 477 946 068Danielle GhiglieraAircover Communications+1 510 333 2707InvestorsLincoln Tan IREN+61 407 423 395 [email protected] To keep updated on IREN’s news releases and SEC filings, please subscribe to email alerts at https://iren.com/investor/ir-resources/email-alerts. Forward-Lookin...