Business
Iris Energy Announces Monthly Investor Update for September 2023
Low-cost power, 30 EH/s Bitcoin mining program 80MW expansion at Childress on track SYDNEY, Australia, Oct. 05, 2023 (GLOBE NEWSWIRE) -- Iris Energy Limited
About this update from Iren Limited
[{"type":"text","content":"Low-cost power, 30 EH/s Bitcoin mining program 80MW expansion at Childress on track SYDNEY, Australia, Oct. 05, 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 August 2023, containing its results from operations as well as business updates. Key Highlights1 Key metrics2Sep-23Average operating hashrate (PH/s)5,554Bitcoin mined390Mining revenue (US$’000)10,278Electricity costs (US$’000)35,354Revenue per Bitcoin (US$)26,331Electricity costs per Bitcoin (US$)13,717 Low-cost power, primed for significant growth 1.4c power at Childress since inception430 EH/s Bitcoin mining program5Next-gen compute / generative AI Childress construction (Phase 1, first 100MW) Concrete foundations for second and third data centers completePrimary steel structure for second data center complete Upcoming conferences October 16: AFR Cryptocurrency Summit, SydneyOctober 30-31: AIM Summit, Dubai Corporate update Full year FY23 results On September 13, Iris Energy reported financial results for the full year ended June 30, 2023. The earnings webcast and the Company’s latest investor presentation are available on the Company’s website here: https://investors.irisenergy.co/events-and-presentations Strategic highlights Low-cost power at Childress (since inception) 2.0c power price6, $6.3k per Bitcoin mined7 (excluding 4CP)1.4c power price4, $4.4k per Bitcoin mined7 (if including 4CP, ineligible during 2023) 30 EH/s Bitcoin mining program Single site expansion, ongoing delivery and construction process$626 million funding plan $69m existing cash8$57m ELOC capacity8$500m shelf filing ($300m ATM + $200m other9)Operating cashflow Next-gen compute and generative AI NVIDIA H100 GPUs on orderInitial delivery expected in the coming monthsCustomer conversations underway regarding cloud and colocation services AI Hardware & Edge AI Summit 2023 Iris Energy partnered with AI Hardware and Systems and presented at the 6th Annual AI Hardware & Edge AI Summit, September 12-14, 2023. The Iris Energy team discussed the Company’s next-generation data centers capable of powering Bitcoin, AI and beyond: 760MW of power capacity 180MW data centers (...