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Iris Energy | 6-K: Report of foreign private issuer (related to financial reporting)

SEC ·  Sep 9, 2024 18:55

Summary by Moomoo AI

Iris Energy reported revenue of $184.1M for FY2024, up significantly from $75.5M in FY2023, driven by mining 4,191 Bitcoin compared to 3,259 in the previous year. The company narrowed its net loss to $29M from $171.9M in FY2023.The company raised $771.4M through ATM share offerings during FY2024 and maintained a strong balance sheet with net current assets of $401.4M as of June 30, 2024. Operations spanned four sites - three in Canada (Canal Flats, Mackenzie, Prince George) and one in Texas (Childress).In August 2024, Iris Energy signed an agreement with Bitmain to purchase approximately 39,000 S21 XP miners for $226.4M, adding potential hashrate of 10.5 EH/s. The new miners are scheduled for delivery in October and November 2024, marking a significant expansion of the company's mining capabilities.
Iris Energy reported revenue of $184.1M for FY2024, up significantly from $75.5M in FY2023, driven by mining 4,191 Bitcoin compared to 3,259 in the previous year. The company narrowed its net loss to $29M from $171.9M in FY2023.The company raised $771.4M through ATM share offerings during FY2024 and maintained a strong balance sheet with net current assets of $401.4M as of June 30, 2024. Operations spanned four sites - three in Canada (Canal Flats, Mackenzie, Prince George) and one in Texas (Childress).In August 2024, Iris Energy signed an agreement with Bitmain to purchase approximately 39,000 S21 XP miners for $226.4M, adding potential hashrate of 10.5 EH/s. The new miners are scheduled for delivery in October and November 2024, marking a significant expansion of the company's mining capabilities.
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