IREN Ltd Stock Price, News & Analysis

Iris Energy has updated its installation of 5.5 EH/s of Bitcoin mining capacity, increasing its operational hashrate from 2.0 EH/s to 2.8 EH/s. An additional 2.0 EH/s of miners are delivered and awaiting installation, while 0.7 EH/s are in transit. The company has 160MW of data center capacity available immediately, with 20MW at Childress expected to come online soon. Additionally, director Michael Alfred's affiliated entity acquired 25,000 shares for approximately $75,753, totaling 130,461 shares worth roughly $373,338 since mid-March.

Iris Energy has announced updates on its 5.5 EH/s Bitcoin mining installation. The current operational hashrate stands at 2.0 EH/s, with an additional 0.8 EH/s delivered and 2.7 EH/s in transit, expected to be operational soon. The Childress switchyard has been energized, facilitating the connection of the 600MW project to the grid. Additionally, director Michael Alfred acquired 105,461 shares for around $297,585 between March 13-15, 2023. Iris Energy continues to focus on sustainable practices, using 100% renewable energy to advance its operations in the Bitcoin mining sector.

Iris Energy (NASDAQ: IREN) has initiated the installation of miners to achieve an operating capacity of 5.5 EH/s. Following an announcement on February 13, 2023, the company confirms that the delivery of remaining miners is anticipated by the end of March 2023, with most becoming operational shortly thereafter. Currently, 160MW of data center infrastructure (supporting approximately 4.9 EH/s) is available, while further 20MW commissioning is expected in the coming months. Importantly, the company does not hold any deposits with Silicon Valley Bank, Silvergate Capital, or Signature Bank.

Iris Energy Limited (NASDAQ: IREN) has announced an increase in its self-mining capacity from 2.0 EH/s to 5.5 EH/s, utilizing $67 million of remaining Bitmain prepayments. The company reported an average operating hashrate of 1,730 PH/s and 156 Bitcoin mined with mining revenue of $3.5 million in February 2023. Despite a 9% decline in Bitcoin mined compared to January, revenues rose by 2%. The company remains debt-free and is advancing construction on its 20MW data center in Texas, with ongoing projects across Canada and Asia-Pacific, capable of supporting an additional 1GW of power capacity.

Iris Energy Limited (IREN), a prominent Bitcoin mining company, announced its financial results for the second quarter of FY23. Despite a challenging digital assets market, the company expanded its data center capacity by over 5x to 160MW. In this period, Iris Energy reported $13.8 million in Bitcoin mining revenue, a decrease from $16.2 million in the previous quarter, and mined 722 Bitcoin, down from 780. The company faced a net loss of $144 million, largely due to a $105.2 million non-cash impairment charge. Nonetheless, it secured $39.4 million in cash and aims to enhance its self-mining capacity from 2.0 EH/s to 5.5 EH/s.

Iris Energy Limited (NASDAQ: IREN) announced plans to increase self-mining capacity from 2.0 EH/s to 5.5 EH/s. This move utilizes US$67 million in Bitmain prepayments to acquire 4.4 EH/s of new S19j Pro miners without additional cash outlay. The transaction resolves all obligations under the existing 10 EH/s contract with Bitmain. The company also anticipates energizing a new site in Childress, Texas, in the coming months. Financial results for Q2 FY23 will be released on February 15, 2023. Overall, the company aims for substantial revenue growth through this expansion while remaining debt-free.

Iris Energy Limited (NASDAQ: IREN) reported a significant operational update for January 2023, highlighting a 15% increase in operating capacity to 1.7 EH/s. The company mined 172 Bitcoin, generating $3.5 million in revenue, marking a 66% increase from December. Additionally, average operating hashrate rose by 45% to 1,575 PH/s. The firm continues to focus on expanding its self-mining capacity to 5.4 EH/s. New appointments include Cesilia Kim as Chief Legal & Risk Officer. The company plans to release its Q2 FY23 financial results on February 15, 2023. Despite notable achievements, the appointment of a receiver for certain non-recourse SPVs raises concerns.

Iris Energy Limited (NASDAQ: IREN) announced the retirement of President Lindsay Ward, effective June 30, 2023. Ward joined the company in October 2021 and played a key role in expanding its Bitcoin mining data centers to 160MW across British Columbia. He is transitioning to non-executive roles after supporting the energization of a new 600MW site in Childress, Texas. The company emphasizes its commitment to renewable energy and aims to position itself as a leader in sustainable Bitcoin mining.

Iris Energy Limited (NASDAQ: IREN) reported a monthly investor update for December 2022, highlighting an operational capacity increase of over 30% to 1.5 EH/s and a total miner capacity of 2.0 EH/s. The company mined 123 Bitcoin, generating US$2.1 million in revenue, despite a 27% revenue decline from November. With $39 million in cash and no debt, Iris Energy continues to expand its data centers in Canada and Texas. Additionally, the company has been named in a securities class action complaint, which it plans to contest.