Welcome to our dedicated page for IREN news (Ticker: IREN), a resource for investors and traders seeking the latest updates and insights on IREN stock.
IREN Limited (NASDAQ: IREN) features prominently in news coverage related to Bitcoin mining, AI cloud services and large-scale data center infrastructure. As a developer, owner and operator of next-generation, renewable-powered data centers in the U.S. and Canada, the company frequently issues updates on commercial agreements, financing transactions and project milestones that are material to investors and industry observers.
News about IREN often focuses on its role as an AI Cloud Service Provider delivering large-scale GPU clusters for AI training and inference. Recent press releases highlight a multi-year GPU cloud services contract with Microsoft, with a total contract value of approximately $9.7 billion through 2031, and an associated purchase agreement with Dell Marketing L.P. for GPUs and ancillary equipment. Coverage also includes additional multi-year AI cloud contracts with customers such as Together AI, Fluidstack and Fireworks AI, reflecting IREN’s efforts to expand its AI cloud customer base.
Another key theme in IREN’s news flow is capital markets activity. The company has announced offerings of convertible senior notes with maturities in 2031, 2032 and 2033, capped call transactions designed to manage potential dilution, and registered direct offerings of ordinary shares used to fund repurchases of existing convertible notes. These items appear in both company press releases and related Form 8-K filings, providing detail on terms, use of proceeds and impacts on the capital structure.
Operational updates also feature in IREN’s news, including quarterly financial results, progress on data center projects in British Columbia, the Childress, Texas campus and the Sweetwater Hub, and commentary on the balance between Bitcoin mining and AI-focused infrastructure. Readers following IREN’s news page can review these developments in one place, including SEC-furnished press releases on earnings, major contracts, governance changes and financing events.
On May 9, 2022, Iris Energy Limited (NASDAQ: IREN) announced its participation in upcoming investor conferences. The management team will attend the 2022 EIC Investor Conference on May 16, followed by the H.C. Wainwright Global Investment Conference from May 23-26, which will be virtual. The company aims to lead in sustainable Bitcoin mining with a planned capacity of 15 EH/s, emphasizing operations in markets with low-cost renewable energy and supporting local communities. Investors interested in participating should contact their sales representatives for registration.
Iris Energy (NASDAQ: IREN) reported significant operational progress with its second site in Mackenzie, BC, commissioned ahead of schedule, enhancing average operating capacity above 1.0 EH/s, targeting 10 EH/s by early 2023. In April 2022, the company mined 137 Bitcoin, with a monthly revenue of $5.4 million, reflecting a 6% increase compared to March. Electricity costs amounted to $21.2 million, yielding a revenue per Bitcoin of $39,740. Additional projects in Prince George and Childress are underway, aiming to boost total capacity significantly.
Iris Energy Limited (NASDAQ: IREN), a sustainable Bitcoin mining company, will release its third quarter FY22 financial results on May 11, 2022, after market close. The company has secured 15 EH/s of miners, with 10 EH/s expected to be operational by early 2023. A conference call is scheduled for the same day at 5:00 PM Eastern Time, featuring a Q&A session. Iris Energy focuses on low-cost renewable energy and operational control over assets, aiming to support local communities and decarbonize energy markets.
Iris Energy Limited (NASDAQ: IREN) announced an increase in its operating hashrate by 33%, exceeding 1.1 EH/s after commissioning 0.3 EH/s at its second site in Mackenzie, BC, Canada. The operational launch is ahead of schedule, contributing to the company's goal of achieving 15 EH/s across multiple sites. Continued construction is on track, with phase two expected to bring an additional 1.5 EH/s online in Q3 2022 and phase three aiming for an installed capacity of 2.4 EH/s in 2023.
Iris Energy Limited (NASDAQ: IREN) achieved a 10% increase in Bitcoin mined and a 14% rise in revenue for March 2022, generating US$5.1 million in mining revenue. The company secured a US$71 million equipment financing facility with NYDIG, backed by 19,800 Bitmain miners, enhancing financial flexibility. Construction is progressing on multiple sites in Canada and Texas, with the Mackenzie and Prince George projects ahead of schedule. Average operating hashrate rose to 850 PH/s, reflecting operational optimization. New executive hires aim to bolster project management and investor relations.
Iris Energy Limited (NASDAQ: IREN), a sustainable Bitcoin mining company, announced its participation in the Cowen Bitcoin Mining Summit on April 12-13, 2022. Co-Founder and Co-CEO Daniel Roberts will engage in a panel discussion and offer 1x1 meetings with institutional investors. The summit will focus on North American miners and their advantages in cryptocurrencies and digital assets. Iris Energy aims to enhance the Bitcoin network while supporting local communities through renewable energy initiatives and securing its infrastructure.
Iris Energy (NASDAQ: IREN) has successfully closed a US$71 million limited recourse equipment financing facility with NYDIG, marking its third such partnership. The financing is secured by 19,800 Bitmain S19j Pro miners. With approximately 10 EH/s of miners still unencumbered, the company maintains significant balance sheet flexibility for future funding. Currently, Iris Energy operates 15 EH/s of mining power, utilizing 100% renewable energy since inception, and is on track for further growth with an operational goal of 10 EH/s by early 2023.
Iris Energy Limited (NASDAQ: IREN) reported a 5% increase in average operating hashrate to 844 PH/s and a total power capacity expansion to 795MW, following a 30MW increase at Mackenzie. In February 2022, the company mined 110 Bitcoin, generating $4.5 million in mining revenue. Financial highlights include record quarterly revenue of $20 million and Adjusted EBITDA of $14 million, reflecting significant growth. Cantor Fitzgerald initiated coverage with an Overweight rating and a price target of $25. The company continues to advance its construction projects across several sites.
Iris Energy Limited (NASDAQ: IREN), a leader in sustainable Bitcoin mining, has announced its participation in three upcoming investor conferences. The company is set to attend:
- Canaccord Genuity Blockchain Infrastructure & Mining Summit on March 17
- Ladenburg Thalmann Special Crypto Expo on March 24
- Bank of America Crypto Mining Day on March 28
With a focus on low-cost renewable energy and a robust infrastructure platform, Iris Energy is committed to supporting local communities and enhancing the global Bitcoin network's decarbonization.
Iris Energy Limited (IREN) reported record revenue of $20 million for Q2 FY2022, reflecting a 93% increase compared to Q1 FY22. The half-year revenue soared to $30.4 million, a staggering 1,352% rise from 1H FY21. Adjusted EBITDA reached $14.3 million with a margin of 72%. Despite a net profit of $71.7 million for the quarter, the half-year showed a net loss of $418.9 million due to a one-off non-cash charge. Operationally, the average hashrate hit 685 PH/s, with 364 Bitcoin mined. The company completed a successful $232 million IPO and is advancing construction projects in Canada.