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IREN (NASDAQ: IREN), a leader in Bitcoin and AI data centers, announced its financial results for Q3 FY24 and the nine months ending March 31, 2024. The company achieved a record revenue of $53.4 million, driven by higher Bitcoin prices and operating hashrate. Adjusted EBITDA increased to $21.8 million, and net profit after tax was $8.6 million. IREN noted a record $47.9 million in operating cashflow YTD, with plans to expand its Bitcoin mining capacity to 30 EH/s in 2024. The report also highlighted a significant increase in AI Cloud Services revenue and the commissioning of 248 NVIDIA H100 GPUs for Poolside AI. Operating expenses rose, with net electricity costs at $19.4 million. Cash reserves stood at $259.7 million as of March 31, 2024, with no debt.
IREN, a leading next-generation data center business, announced its expansion plans to increase its operating hashrate to 30 EH/s by 2024, ahead of its initial schedule. The company has achieved a 10 EH/s milestone and secured Bitmain S21 Pro miners with a nameplate efficiency of 15 J/TH. Upon completion, IREN's nameplate fleet efficiency will be 16 J/TH with an indicative electricity cost of $17k per Bitcoin mined. An additional 50MW data center at Childress, funded through existing cash and other sources, will support this growth. Further expansion to 40 EH/s is expected in the first half of 2025. IREN has $321.5 million in cash and no debt facilities as of April 30, 2024.
IREN (Iris Energy ) will release its financial results for the three-months ended March 31, 2024, on Wednesday, May 15, 2024 USA Eastern Daylight Time. The Company will host a conference call starting at 5:00 p.m. USA Eastern Daylight Time. The webcast will be recorded, and the replay will be available shortly after the event.
IREN, a leading next-generation data center business, released its April 2024 investor update showcasing key highlights in Bitcoin mining, AI cloud services, and data center expansions. The company reported steady growth in Bitcoin mined, expanded operating hashrates, and upsized GPU deployments. Expansion plans are fully funded and ahead of schedule, with a focus on renewable energy usage and sustainable growth. The monthly update also included financial metrics and upcoming events for investors.
IREN (Iris Energy ) (NASDAQ: IREN) has announced that its operating hashrate has increased to 9 EH/s and is expected to achieve 10 EH/s in May 2024. The company's expansion to 20 EH/s in 2024 remains on track, improving nameplate fleet efficiency to 21.9 J/TH. Additionally, IREN plans to commission an additional 50MW of data center capacity as part of Childress Phase 3 this year, increasing planned data center capacity from 460MW to 510MW by the end of 2024. This expansion has been enabled partly through a new substation design and ongoing improvement and optimization of the construction and procurement process.
