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.

Summary of Iris Energy Investor Update - May 10, 2023 Company Overview - **Company**: Iris Energy (IREN) - **Industry**: Bitcoin Mining Key Points and Arguments 1. **Operational Capacity**: Iris Energy has completed the installation of 5.5 Exahash of operating capacity, generating approximately $7 to $8 million in monthly mining profit, with plans to expand to 6.5 Exahash [4][24] 2. **Financial Position**: The company has $55 million in cash and no debt, positioning it with one of the cleanest balance sheets in the sector, allowing for flexibility in growth and risk management [5][25] 3. **Expansion Plans**: Iris Energy aims to add 20% capacity by optimizing existing infrastructure and building an additional 20 megawatts at the Childress site, which has 580 megawatts of power ready [6][11] 4. **Market Conditions**: The company has seen a significant increase in Bitcoin transaction fees, with recent mining profits exceeding financial model expectations, reaching $24.25 Bitcoin in a 24-hour period [9][10] 5. **Childress Site**: The Childress site is highlighted as a transformational growth opportunity, with the ability to trade power between Bitcoin mining profitability and energy market pricing, providing flexibility and downside protection [11][15][18] 6. **Proprietary System**: Iris Energy has developed a proprietary system that allows real-time trading of power, enabling the company to adjust Bitcoin production based on market conditions, enhancing operational efficiency [17][20] 7. **Mining Efficiency**: The company has demonstrated consistent outperformance in Bitcoin mined per Exahash of capacity, reflecting the quality of its facilities and operational management [25] 8. **Future Outlook**: The management team remains committed to long-term growth, with a focus on building a multi-decade institutional-grade infrastructure business [27] Additional Important Information 1. **Annualized Mining Profits**: At a Bitcoin price of $30,000, annualized mining profits are projected to be approximately $90 million, increasing to $110 million post-expansion [23][24] 2. **Geographical Diversification**: Iris Energy has successfully commissioned 180 megawatts of data centers across North America, enhancing its operational footprint [28] 3. **Environmental Considerations**: All sites in British Columbia are powered by 100% renewable energy from BC Hydro, aligning with sustainability goals [32] 4. **Management Alignment**: Founders and management hold over 20% of the company, indicating strong alignment with shareholder interests [27] This summary encapsulates the key insights from the Iris Energy investor update, highlighting the company's operational achievements, financial health, strategic expansion plans, and commitment to sustainable practices in the Bitcoin mining industry.

Exhibit 99.1 Iris Energy Limited Consolidated Annual Financial Report - 30 June 2022 I r i s E n e r g y L i m i t e d Ta b l e o f c o n t e n t s 3 0 J u n e 2 0 2 2 | 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 | | | | | | --- | --- | --- ...

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, 2022 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 ...

Exhibit 99.1 Iris Energy Reports Record Full Year FY22 Results Key Highlights SYDNEY, AUSTRALIA, September 13, 2022 (GLOBE NEWSWIRE) -- Iris Energy Limited (NASDAQ: IREN) ("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, 2022. All $ amounts are in United States Dollars ("USD") unless otherwise stated. "We are pleased to repo ...