Business
Iris Energy Announces Monthly Investor Update for October 2022
Average operating hashrate of 3.9 EH/s Mackenzie (50MW to 80MW) infrastructure expansion on track Construction & energization at Childress site continues
About this update from Iren Limited
[{"type":"text","content":"Average operating hashrate of 3.9 EH/s Mackenzie (50MW to 80MW) infrastructure expansion on track Construction & energization at Childress site continues Limited recourse equipment financing and Bitmain prepayment update SYDNEY, Australia, Nov. 07, 2022 (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 October 2022, containing its results from operations as well as construction and development updates. The Company provided updates on November 2 and November 7 in respect of the Group’s limited recourse equipment financing arrangements as well as prepayments made to Bitmain (“November Updates”). All information in this investor update is as at October 31, 2022 (unless otherwise specified) and does not give effect to the updates described in the November Updates (including the termination of the relevant hosting arrangements, the purported acceleration by the relevant lender of two of the Group’s three limited recourse equipment financing facilities (the “Relevant Facilities”) or the current status and outcome of discussions with such lender in relation to the Relevant Facilities), which could have a material impact on the Company’s operating capacity, business, financial condition, cash flows and results of operations. Key Highlights1 Key metricsOct-22Average operating hashrate (PH/s)3,903Bitcoin mined2448Mining revenue (US$’000)8,785Electricity costs (US$’000)4,172Revenue per Bitcoin (US$)19,591Electricity costs per Bitcoin (US$)9,304 Corporate: The Company provided updates on November 2 and November 7 in respect of the Group’s limited recourse equipment financing arrangements as well as prepayments made to Bitmain Operations: Average operating hashrate of 3,903 PH/s (+43% vs. September)Monthly operating revenue of US$8.8 million (+41% vs. September)448 Bitcoin mined (+38% vs. September) Construction: Mackenzie (2.5 EH/s, 80MW – BC, Canada) Expansion from 50MW to 80MW on track for energization by the end Q4 2022Internal fit-out complete for the remaining 10MW of the third data center building (20MW)Foundations and erection of structural steel complete, and internal fit-out progressing for the fourth data ...