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

SEC ·  Sep 9 06:55

Summary by Moomoo AI

Iris Energy Limited, operating under the abbreviated name IREN, released its consolidated annual financial report for the fiscal year ending June 30, 2024. The report, made public on September 4, 2024, and available on the company's investor relations website, details the financial performance and strategic developments of the Bitcoin mining and AI cloud services provider. The company, which operates energy-efficient data centers powered by renewable energy, reported a loss of $28,955,000 for the year, a significant reduction from the previous year's loss of $171,871,000. Revenue from Bitcoin mining saw a substantial increase to $184,087,000, up from $75,509,000 the previous year, with the number of Bitcoin mined rising to 4,191 from 3,259. The report also highlights a new agreement with Bitmain Technologies Delaware Limited for the purchase of...Show More
Iris Energy Limited, operating under the abbreviated name IREN, released its consolidated annual financial report for the fiscal year ending June 30, 2024. The report, made public on September 4, 2024, and available on the company's investor relations website, details the financial performance and strategic developments of the Bitcoin mining and AI cloud services provider. The company, which operates energy-efficient data centers powered by renewable energy, reported a loss of $28,955,000 for the year, a significant reduction from the previous year's loss of $171,871,000. Revenue from Bitcoin mining saw a substantial increase to $184,087,000, up from $75,509,000 the previous year, with the number of Bitcoin mined rising to 4,191 from 3,259. The report also highlights a new agreement with Bitmain Technologies Delaware Limited for the purchase of approximately 39,000 Bitmain S21 XP miners, scheduled for shipment in October and November 2024, with a total contracted cost of $226,395,000. Additionally, the company has utilized an At Market Sales Agreement to sell 108,063,868 shares, raising approximately $771,438,000 in gross proceeds. The company's capital management strategy is focused on maintaining a strong capital base to support future growth and investor confidence.

This announcement is a separate document:

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Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
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