Business
Iris Energy Announces Monthly Investor Update for July 2023
Record data center operations at 111°F (44°C) Appointment of Sunita Parasuraman to Board of Directors SYDNEY, Australia, Aug. 03, 2023 (GLOBE NEWSWIRE) --
About this update from Iren Limited
[{"type":"text","content":"Record data center operations at 111°F (44°C) Appointment of Sunita Parasuraman to Board of Directors SYDNEY, Australia, Aug. 03, 2023 (GLOBE NEWSWIRE) -- Iris Energy Limited (NASDAQ: IREN) (\"Iris Energy\" or \"the Company\"), a leading owner and operator of institutional-grade, highly efficient proprietary Bitcoin mining data centers powered by 100% renewable energy, today published a monthly investor update for July 2023, containing its results from operations as well as business updates. Key Highlights1 Key metrics2Jul-23Average operating hashrate (PH/s)5,562Bitcoin mined423Mining revenue (US$’000)12,660Electricity costs (US$’000)6,552Revenue per Bitcoin (US$)29,939Electricity costs per Bitcoin (US$)15,494 Corporate: Record data center operations at 111°F (44°C) intake temperatures Maintained stable hashrate through extreme temperaturesDemonstrates Iris Energy’s industry-leading data centersFurther validates proprietary air-cooled data center design Appointment of Sunita Parasuraman to Board of Directors Senior technology executive, previous experience with Meta (Facebook), VMware, Genentech, and Apple Operations (for the month of July 2023): Average operating hashrate of 5,562 PH/s (flat vs. June)Monthly operating revenue of US$12.7 million (+9% vs. June)423 Bitcoin mined (-1% vs. June)~US$0.2 million of estimated power sales at Childress via automated algorithm (~6 Bitcoin equivalent)3Higher electricity costs per Bitcoin ($15.5k vs. $13.0k in June) primarily attributable to higher prices at Childress during the month (typically higher during summer months) and reduced market volatility (lower energy trading proceeds). The Company retains flexibility to reduce future power costs through adjusting miner output in response to changes in mining economics Construction: Childress (Phase 1: 100MW – Texas, USA) 20MW data center operatingCivil works for remaining 80MW scheduled to commence in August Corporate update Appointment of Sunita Parasuraman to Board of Directors On July 18, 2023, the Company announced the appointment of Sunita Parasuraman to its Board of Directors. Ms. Parasuraman will also serve as Chair of the Audit and Risk Committee. During her career as a senior technology executive, Ms. Parasuraman has built and scaled world-class teams at Meta (Facebook), VMware, Genentech, and Apple. Ms. Parasuraman currently serve...