From GlobeNewswire: 2024-05-06 08:27:00

IREN, a leading data center business, released its April 2024 investor update. Key highlights include Bitcoin mining with 358 Bitcoins mined, 9.4 EH/s operating, and expansion ahead of schedule. Expansion to 20 EH/s is fully funded. AI Cloud Services deployed 816 NVIDIA H100 GPUs generating estimated annualized hardware profit of $14-$17m.

In April, IREN’s Bitcoin mining operations included an average operating hashrate of 8.2 EH/s, monthly revenue flat compared to March due to factors like lower Bitcoin price. Expansion plans for 2024 include reaching 20 EH/s ahead of schedule. The Company is on track to reach 10 EH/s in the coming weeks.

IREN’s AI Cloud Services saw the deployment of 816 NVIDIA H100 GPUs at the Prince George data center. An agreement with Poolside was extended, generating substantial hardware profit. Additionally, testing the on-demand cloud market is in progress with promising results.

The data center expansion plan includes an increase from 460MW to 510MW in 2024, supporting growth beyond 20 EH/s. The Childress Phase 3 expansion was upsized by 50MW, facilitating growth beyond 20 EH/s. Ongoing improvements in construction and procurement processes are allowing for increased capacity.

IREN announced its upcoming 3Q FY24 results release on May 15, 2024. Co-Founder & Co-CEO Will Roberts will present at the CheatCode Bedford, with several other events lined up for the month. The Company continues to make progress in expanding its operations and achieving its targets for the future.



Read more at GlobeNewswire: April 2024 Monthly Investor Update