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

SEC ·  Dec 6, 2024 20:00

Summary by Moomoo AI

On December 6, 2024, Iris Energy released its November 2024 investor update, highlighting a 33% increase in installed Bitcoin mining capacity to 28 EH/s. The company mined 379 Bitcoin, with a revenue of $32.6 million, up 16% from the previous month, despite a decrease in Bitcoin mined due to increased network hashrate. The hardware profit margin improved to 74%.Iris Energy is advancing its AI and HPC initiatives, with NVIDIA H200 GPUs undergoing customer testing and liquid-cooling installations for Blackwell GPUs. The company is also expanding its data center capacity, with 460MW operating and plans to reach 810MW by H1 2025. A 1.4GW site in Sweetwater is set for energization in April 2026.The company announced a $440 million convertible notes offering, increased from an initial $300 million due to strong investor demand. Iris Energy is transitioning to U.S. domestic issuer status in 2025, with potential investor distributions anticipated.
On December 6, 2024, Iris Energy released its November 2024 investor update, highlighting a 33% increase in installed Bitcoin mining capacity to 28 EH/s. The company mined 379 Bitcoin, with a revenue of $32.6 million, up 16% from the previous month, despite a decrease in Bitcoin mined due to increased network hashrate. The hardware profit margin improved to 74%.Iris Energy is advancing its AI and HPC initiatives, with NVIDIA H200 GPUs undergoing customer testing and liquid-cooling installations for Blackwell GPUs. The company is also expanding its data center capacity, with 460MW operating and plans to reach 810MW by H1 2025. A 1.4GW site in Sweetwater is set for energization in April 2026.The company announced a $440 million convertible notes offering, increased from an initial $300 million due to strong investor demand. Iris Energy is transitioning to U.S. domestic issuer status in 2025, with potential investor distributions anticipated.
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