Got it. That makes sense. If I could ask one more question and I was able to pick up some of the disclosures in the presentation. But curious, how many shares were sold in the fourth quarter related to the ATM and then year-to-date? Belinda Nucifora I've got the breakdown for the financial half. So we raised $75 million from the sale of 17.6 million shares. And then further to that, from 1 January to-date, we've raised a further $93 million from the sale of 19.7 shares. Operator Our next question comes from ...

Exhibit 99.1 Iris Energy Limited Consolidated Annual Financial Report - 30 June 2023 I r i s E n e r g y L i m i t e d 3 0 J u n e 2 0 2 3 | D | i | r | e | c | t | o | r | s | ' | r | e | p | o | r | t | 3 | C | o | n | s | o | l | i | d | a | t | e | d | s | t | a | t | e | m | e | n | t | s | o | f | p | r | o | fi | t | o | r | l | o | s | s | a | n | d | o | t | h | e | r | c | o | m | p | r | e | h | e | n | s | i | v | e | i | n | c | o | m | e | 8 | | | | --- | --- | --- | --- | --- | --- | --- | -- ...

Company Participants Conference Call Participants Operator I would now like to hand the conference over to your speaker today, Robert Lincoln. Please go ahead. Good afternoon to those of you in North America, and good morning to those of you in Australia. Welcome to the Iris Energy FY '23 Earnings Conference Call. My name is Lincoln Tan, Senior Manager of Investor Relations. And with me on the call today is Daniel Roberts, Co-Founder and Co-CEO; and Belinda Nucifora, CFO. Thank you, and I will now turn the ...

Exhibit 99.1 Iris Energy Reports Full Year FY23 Results SYDNEY, AUSTRALIA, September 13, 2023 (GLOBE NEWSWIRE) -- Iris Energy Limited (NASDAQ: IREN) (together with its subsidiaries, "Iris Energy" or "the Company"), a leading owner and operator of institutional-grade, highly efficient Bitcoin mining data centers powered by 100% renewable energy, today reported its financial results for the full year ended June 30, 2023. All $ amounts are in United States Dollars ("USD") unless otherwise stated. "FY23 was a t ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 D ...

Key Points Company and Industry * **Company**: Iris Energy Limited (NASDAQ:IREN) * **Industry**: Bitcoin mining and data center operations Core Views and Arguments * **5.5 Exahash Fully Operational**: Iris Energy has successfully completed the construction of its 5.5 exahash mining facility, which is now fully operational and generating around $7 million to $8 million in monthly mining profit. * **Expansion Plans**: The company plans to add 20% capacity to its current 5.5 exahash, aiming to reach 6.5 exahash. This expansion will involve optimizing existing infrastructure and adding an additional 100 petahash to 0.1 exahash, as well as building out an additional 20 megawatts at Childress. * **BITMAIN S-19 XP Miners**: Iris Energy plans to prioritize the procurement of BITMAIN S-19 XP miners for its expansion, aiming to further reduce production costs and lower its cost curve. * **Liquidity and Funding**: The company has $55 million in cash and no debt, providing strong liquidity and flexibility for future growth. It is also fully funded for its expansion plans. * **Childress Site**: The Childress site in Texas represents a transformational growth opportunity for Iris Energy. The company owns 600 megawatts of power and has 580 megawatts of power ready to go, with 20 megawatts currently operating. It plans to expand the site over time as market conditions allow. * **Trading Power**: Iris Energy has developed a proprietary system that allows it to trade power live time in the ERCOT market, providing flexibility and downside protection. The company can choose to either use the power for mining or sell it back to the market, depending on market conditions. * **Financial Performance**: Iris Energy expects its annualized mining profits to increase from approximately $90 million to $110 million per annum with the expansion to 6.5 exahash. The company also expects its overheads to remain relatively stable as it scales up its operations. Other Important Content * **Management Team**: Iris Energy's management team remains highly aligned and committed to the future of the business, with the founders, board, and management team holding over 20% of the register. * **Geographically Diversified Platform**: Iris Energy has built a geographically diversified real asset platform across North America, with sites in British Columbia and Texas. * **In-House R&D and Engineering**: Iris Energy has an in-house R&D and engineering team that provides support to all of its sites, ensuring optimal efficiency and performance.

Yeah. Sure, Chase. So look, the excess demand charges are expected to normalize at around the 90 megawatt range. So that's, call it, roughly 2.8 exahash. So as Dan said, laser focused on getting these new miners energize ASAP. Chase White Operator [Operator Instructions] The next question comes from Reggie Smith with JPM. One moment. Please proceed. Reggie, your line is live. Reggie Smith Oh, I'm sorry. Thanks for taking the question. I guess my question is more kind of big picture. Thinking about bitcoin i ...