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.