Business
Iris Energy Reports Third Quarter FY22 Results
Key Highlights Revenue of $15.2 million (A$20.2 million) (+445% YoY)Adjusted EBITDA of $7.3 million (A$9.8 million) (+358% YoY)Adjusted EBITDA Margin of 48%
About this update from Iren Limited
[{"type":"text","content":"Key Highlights Revenue of $15.2 million (A$20.2 million) (+445% YoY)Adjusted EBITDA of $7.3 million (A$9.8 million) (+358% YoY)Adjusted EBITDA Margin of 48% (-9bp YoY)Cash flow from operations during the quarter of $4.6 million (A$6.1 million)IFRS NLAT of $2.7 million (A$3.6 million), largely driven by unrealized foreign exchange losses of $5.8 million (A$7.8 million)Record average operating hashrate of 833 PH/s (+686% YoY), exceeding Canal Flats’ previously announced site capacity of 0.7 EH/s 357 Bitcoin mined (+449% YoY)Expansion to 15 EH/s of installed capacity progressed well across four data center sites Several construction milestones at the second and third data center sites in British Columbia (Canada), with the first 0.3 EH/s (9MW) being commissioned at Mackenzie ahead of schedule following quarter end on April 12600MW connection agreement signed with AEP Texas at the Company’s fourth site in Texas (USA), increasing the Company’s total announced power capacity to 795MW $71 million NYDIG equipment financing facility secured by 19,800 miners (1.98 EH/s) SYDNEY, Australia, May 11, 2022 (GLOBE NEWSWIRE) -- Iris Energy Limited (NASDAQ: IREN) (“Iris Energy” or “the Company”), a leading sustainable Bitcoin miner which is building an institutional-grade infrastructure platform with 15 EH/s of operating and contracted miners (10 EH/s expected to be operational by early 2023), today reported its financial results for the third quarter ended March 31, 2022. All $ amounts are in United States Dollars (“USD”) and all A$ amounts are in Australian Dollars (“AUD”), unless otherwise stated. “We remain focused on delivering our strategy of building a global institutional-grade data center platform for our shareholders,” stated Daniel Roberts, Co-Chief Executive Officer and Co-Founder of Iris Energy. “We expect the next 12 months will be transformational for the Company.” Iris Energy’s President, Lindsay Ward, commented, “Over the quarter, the Iris Energy team continued to expand and safely build out our second and third proprietary data center sites in British Columbia, Canada with our fourth site in Texas breaking ground in April. The next 12 months will be an exciting period for the Company as we deliver our hashrate growth targets.” Third Quarter FY22 Results Iris Energy generated quarterly revenue of $15.2 million (A$20.2 million) vs...