Business
Iris Energy Limited Announces Monthly Investor Update for November 2021
Iris Energy successfully completes $232 million Nasdaq IPO On track to become one of the largest Bitcoin miners with 15.2 EH/s SYDNEY, Australia, Dec. 09,
About this update from Iren Limited
[{"type":"text","content":"Iris Energy successfully completes $232 million Nasdaq IPO On track to become one of the largest Bitcoin miners with 15.2 EH/s SYDNEY, Australia, Dec. 09, 2021 (GLOBE NEWSWIRE) -- Iris Energy Limited (NASDAQ: IREN) (“Iris Energy” or “the Company”), a leading sustainable Bitcoin miner with 15.2 EH/s of secured miners, today published a monthly investor update for November 2021, containing its results from operations as well as construction and development updates. Key highlights Successful completion of a $232 million Nasdaq IPO. J.P. Morgan, Canaccord Genuity and Citigroup acted as lead book-running managers.15.2 EH/s of miners secured1: 0.7 EH/s currently operating0.8 EH/s to be shipped in 2021 (2,841 Bitmain S19j Pro miners currently in transit2; 2,290 Bitmain S19j Pro and 3,122 Bitmain S19j miners scheduled for December)5.7 EH/s to be shipped in 2022 (42,575 Bitmain S19j Pro and 15,705 Bitmain S19j miners)8.0 EH/s to be shipped in 2023 (80,294 Bitmain S19j Pro miners). Operations: 657 PH/s average operating hashrate in November, powered by 98% renewable energy113 Bitcoin mined during the month, generating monthly operating revenue of $6.6 millionWelcomed Lindsay Ward (President) and Mike Alfred (Non-Executive Director). Construction & Development: Construction continues to progress at Mackenzie (BC, Canada), expected to deliver capacity of 1.5 EH/s (50MW) in 2022Broke ground at Prince George (BC, Canada), expected to deliver capacity of 1.4 EH/s (50MW) in 2022 and expansion to 2.4 EH/s (85MW) in 2023Development works continued on a range of additional sites which have been secured across Canada, USA and Asia-Pacific. Development of those sites is expected to support up to 1GW of aggregate power capacity to install the Company’s 15.2 EH/s of miners (~530MW). Corporate update On November 19, 2021, Iris Energy successfully completed a $232 million IPO and has listed on the Nasdaq Global Select Market. Net proceeds from the IPO to be primarily used to fund the Company’s capex initiatives, including miner purchases (15.2 EH/s secured) and the construction of the Company’s proprietary specialized data centers. Iris Energy also recently welcomed Lindsay Ward as President and Mike Alfred as Non-Executive Director: Lindsay has over 35 years’ operational experience in front-line senior business leadership positions as Chief Executive O...