The following is a summary of the Iris Energy Limited (IREN) Q4 2024 Earnings Call Transcript:

Financial Performance:

• Iris Energy Limited reported a significant year-on-year increase in adjusted EBITDA of $54.7 million.

• Revenue from Bitcoin mining increased from $75 million to $184 million as operation hash rate rose from 5.6 exahash to 9.4 exahash.

• Bitcoin mined averaged a realized price of $44k, marking an 89% price increase year-on-year.

• Average net electricity costs per Bitcoin mined increased from $11k to $18.1k, reflecting increased operational costs despite a global hash rate rise and halving event.

Business Progress:

• Iris Energy increased its installed capacity for Bitcoin mining to 15 exahash and is set to reach 30 exahash by the end of the year. Additionally, it plans to increase to 50 exahash next year.

• Enhanced fleet efficiency to 15 joules per terrahash via acquisition of 10 exahash of latest generation Bitmain miners.

• Continued AI cloud service with steady month-on-month revenue growth and an expected pilot GPU integration in Childress in the second half of the year.

Opportunities:

• Development of AI cloud services and GPU operations is a major opportunity, showing steady revenue and client base growth.

• Significant potential in bitcoin mining driven by increasing installed capacity and fleet efficiency improvements.

Risks:

• Volatility in Bitcoin pricing and hash rates could impact profitability and operational costs.

• Supply chain and technical issues with Bitmain miners, although handled adequately, indicate potential risks in miner performance and reliability.

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.