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.